I am planning to sell my rental house in Kauai, HI to my son for $450,000 early 2020.
I want to know how much tax I will need to pay. This will help me to make a final decision.
Is it just a matter of entering the sale price in Turbo Tax and let the program determine the tax?
If so, can you walk me through it?
Appreciate any help.
Mahalo,
Ron Iwami
Loyal Turbox Tax customer
