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Reply to "Real estate & tax implications - elderly parent "
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[quote=Anonymous]Do not give it to the son now!!!!!! This would be a massive mistake. Assuming she’s lived there a while, she should have $250k in gains that can be taken tax free. Who knows if Biden will keep that loophole. I would sell the house now. Prices are at an all time high with people fleeing cities and rates so low. [/quote]
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