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No, even if they are reported as proceeds on your 1099-S, the gift of equity is not deductible.
A gift is not deductible for the donor, nor is it taxable for the recipient.
No, even if they are reported as proceeds on your 1099-S, the gift of equity is not deductible.
A gift is not deductible for the donor, nor is it taxable for the recipient.
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