You owned a rental house and gave part of it away. When you gave part of it away, you gave away that portion of your basis. For example: You bought the house for $50,000 and later gave away half the house. Your basis in what you own is $25,000 and the person you gave it to has a basis of $25,000 in the house. The whole basis of the house remains at $50,000.
@chafint
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