@AmeliesUncle wrote: No, the Passive Loss Carryover does NOT get transferred to the gift recipient. Instead, the Basis of the property is increased by the amount of the Passive Loss Carryover.
No, the Passive Loss Carryover does NOT get transferred to the gift recipient. Instead, the Basis of the property is increased by the amount of the Passive Loss Carryover.
Per Section 469(j)(6)(A)
