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Investors & landlords
Okay, to clarify regarding this scenario: the only sale would be Peter selling part of his July 2023 share (525/3=175) to Mary as follows: Mary pays Peter 125. Peter gifts Mary 50k. Can you advise how Peter would account for this aspect of the transaction? Mary's basis would be 125+ (50/175) x Peter's adjusted Basis at the time of our Mom's death?
July 22, 2023
8:38 PM