sjrcpa
Level 15
04-07-2021
06:31 PM
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Was the donee a charity? I've never seen a HUD 1 for a gift of property to a charity.
The charitable contribution is the FMV determined by the required appraisal.
No taxable gain on a contribution of appreciated property.
Or was this a bargain sale to charity? More complicated.
The more I know the more I don’t know.