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Article Date:
November 2006

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Gift of Home

My daughter and I own her home together. She has lived in this home for seven years. If I gift my ownership interest to her, can she sell the home and claim the $250,000 exclusion on both her ownership interest and the part I owned? (B.N., Lake Tahoe, CA)


No. She would pay long-term capital gains tax on the part you gifted her, because she would fail the “two years of ownership before sale” requirement.1 Your ownership ... Log in to view full article.

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