540689
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.
You'll need to sign in or create an account to connect with an expert.
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:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Travis68
New Member
Travis68
New Member
fizzylogic
Returning Member
bou10404
Level 3
LRC25
Returning Member