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Investors & landlords
1) Suzy has a $75k basis, not 150k. Donna has a 75k basis.
2) Suzy has a $250k exclusion. Donna has none.
3) Sales price is divided in half between owners. $225k each.
4) You can make a gift to your nephews but it is not deductible. It changes nothing in regard to the house.
‎June 1, 2019
12:44 AM