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Investors & landlords
Basically if you sell a property in PA and you live in another state then you will pay taxes on the PA sale to PA AND the resident state will also tax you on the sale HOWEVER the resident state will give you a credit for the taxes paid to PA so you are not double taxed.
As for the "transferring" of the title back and forth ... you and your parents will both need to file gift tax returns to report the gifting.
‎July 1, 2023
8:58 AM