Thanks for all the replies.I think I finally understand this whole process clearly:Only thing that needs to be reported is on Form 709.Since I have a net loss, ...
Thanks for the replies.I was hoping that I could get away with doing an appraisal as that's at least another $500. Thought if I used a really higher number for ...
I think my parents are going to rent it too. I don't think they will be living in it.I understand even if its converted in to a personal property they still nee...
I know that I can not claim a loss. I am fine with that.My question is do I still need to report it on my income tax return? The part sale portion of the transa...
So my understanding so far is that there are two portion to this.The gift part is the 250k -100k mortgage which is a total of 150k and that needs to be ported o...
