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Investors & landlords
What will be his adjusted basis? he use to report 50% of the property?
He transferred the property because at that time we owed more than what the property was worth.
Do we both have to report a gift?
what are the tax consequences? do I have to pay taxes on the gift portion?
He transferred the property because at that time we owed more than what the property was worth.
Do we both have to report a gift?
what are the tax consequences? do I have to pay taxes on the gift portion?
‎June 1, 2019
1:37 PM