J_Robles
New Member

Do I have to pay capital gain taxes based on fair market value when gifting a rental house to a relative?

Bought rental for $260k in 2013, put $40k in remodeling/repairs.  Appraisal came at $382k recently.  I'll do a quitclaim deed for $0 and, so far, I have about $45,000 in claimed deductions of this rental.