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@abctax55wrote: If the FMV of the property at the time the donor made the gift "...is less than the donor's adjusted basis" @getsmarttax88 HIGHLY unlikely with ...
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@IRonMaNHe's not the only one who needs correct information. Thousands of TurboTax users come here for answers, and we can't allow them to be misled.
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@sjrcpaFarmers? In California? I thought they just made movies there. But then I remembered "land of fruits and nuts." Those people aren't called farmers though...
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@qbteachmt You don't understand the numbers. The $3,944 is a credit, that counts as additional withholding. If only the lower number of $113,328 is used, the pe...
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The basis of a gift is the basis of the donor (the parents). The daughter gets their holding period, too.
