Posted by Dave Murray, Ohio CPA on September 02, 2003 at 14:25:00:
I am positive I answered this question somewhere. Did you post it in another section? I can’t find the original question nor my response in this forum…
Repost, please help. Home gifting - Posted by Peter Wilmot
Posted by Peter Wilmot on September 01, 2003 at 11:23:41:
What is the tax liability, both for my grandparents and for me, if my grandparents were to sell me their home, which they own free and clear, for $1. They bought it for $40,000 in 1960, but is currently worth about $500,000.
Re: Repost, please help. Home gifting - Posted by Dave Murray, Ohio CPA
Posted by Dave Murray, Ohio CPA on September 02, 2003 at 14:36:08:
See “Jessica’s” question of this same date. The answer is similar.