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Reply to "Selling property tax question"
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[quote=Anonymous]There's no point in selling for $1 - you may as well just gift it to your son and then no gift tax or income tax is owed - he would take over all of the tax attributes of the property that you had (depreciation to be recaptured later when he sells it). or, just hold onto it until death, and then your son gets the property free and clear of the recpature. [/quote]
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