Agent

Why most real estate gifts escape taxes

Lifetime exemption limit extends to $1 million
Published on Dec 5, 2006

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by CareyBot

DEAR BOB: I sold my principal residence to my daughter in 2006, using gift equity. The loan officer structured the loan as a $400,000 purchase price with a $307,000 mortgage. My question is will I owe taxes on the $93,000? ...

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