The property gifted was held long-term - approx. $90,000 cost less approx. $30,000 depreciation. I will have a gift tax return done but I want to make sure there is nothing else to be reported on my 1040. Sch E assets are noted as disposed, but nothing flows to any other form - 4797 or Sch D.
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You have a fairly complicated transaction here so I will provide some guidance:
You have a fairly complicated transaction here so I will provide some guidance:
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