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Investors & landlords
When I say "you may need a lawyer" I mean that as "to explain to your siblings how this will work so they don't blame any one particular sibling for anything that happens."
Tax laws are pretty black and white. Unless the gift documents say otherwise, each sibling just sold an asset worth $45,000, and the tax consequences for each sibling will depend on their own particular financial situation.
Tax laws are pretty black and white. Unless the gift documents say otherwise, each sibling just sold an asset worth $45,000, and the tax consequences for each sibling will depend on their own particular financial situation.
‎June 6, 2019
6:18 AM