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I gifted a second home to son in 2020. the transfer occured. Do I report the home as sold?
Do I report income and taxes from property as a rental for the period up until October?
@mandocello1 wrote:
Do I report income and taxes from property as a rental for the period up until October?
Yes, and then you would indicate that you disposed of the property in the Rental Properties and Royalties section of the program.
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Note that you may have to file Form 709, for which you may want to seek guidance from a tax professional.
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