How to Leave Your $210K Home to Your Daughter Without Triggering Capital Gains Tax

Tuesday, 20 February 2024, 15:44

In this post, we discuss strategies to transfer a $210K home to your daughter without incurring capital gains tax implications. By exploring the property's original purchase price, current valuation, and the intention for it to be her first home, we provide insights into minimizing tax obligations. Understanding the specific rules and options available can help you navigate this financial decision effectively, ensuring a smooth transfer of the property to your daughter without unwanted tax consequences.

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Leaving Your $210K Home to Your Daughter

‘I bought the property for $120,000 and it’s currently valued at $210,000. My daughter says that she wants this home to be her first home.’

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Leaving Your $210K Home to Your Daughter

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