Gift or Inherit Transferring the title of a home from one person to another may seem simple but it could have a significant tax implication.
When a person inherits property, the basis is "stepped-up" to fair market value at the time of the decedent's death. On the other hand, a gift has a carry-over basis which means that the recipient receives the unrealized gain also.
As an example, let's say an elderly parent, in an attempt to get their affairs in order, gives their home to their adult child. The rationale might be that … (0 comments)
edina home: Minnesota Economy And National Economic Policies
- 01/26/10 05:44 AM
Every wonder what is going on in the economy. Why does one leader or party believe one thing and yet another sees it in a completely opposite way? Just like with politics, there is are opposing economic view points on how to expand and manage the economy. Economists-John Maynard Keynes and F. A. Hayek differed in their interpretation. If you want to watch a fun video explaining what I'm talking about. Looking for an Edina Home? Visit our MN real estate site and search for Edina Homes or homes in the Twin Cities. We also offer Minneapolis mortgages and mn home … (0 comments)
Information about minnesota real estate, twin cities real estate market, the twin cities, twin cities relocation, and other things that might be fun or of interest. Articles will be posted that describe the real estate and mortgage markets and provide useful information to first time buyers, move up buyers, and investment property buyers. http://www.MinneapolisStPaulHomes.com or http://www.MinnesotaRealEstateBrokerBlog.com
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