Q: What is the best legal way to save on capitol gains money owed if I give my niece a rental home I own in Florida.
I bought the house for $62,000.00 in 1982 and the most recent FMV is $160,000.00. What is the best route to take on this ? Thank you
A: You will probably need to consult with an accountant as to the best road to take taxwise. The trick is that although you say it's most recent fmv is 160, it is probably much less than that.
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