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Updated about 10 years ago on . Most recent reply presented by

Chase Spitzer's profile image
Chase Spitzer's profile image
Chase Spitzer
  • Realtor
  • from Decatur, Illinois
  • Member since Jun 3, 2013
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Chase Spitzer's profile image
Chase Spitzer's profile image
Chase Spitzer
  • Realtor
  • from Decatur, Illinois
  • Member since Jun 3, 2013
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Chase Spitzer
  • Realtor
  • Decatur, IL
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Tax, SDIRAs & Cost Segregation

inherit vs purchase of property.

Chase Spitzer
  • Realtor
  • Decatur, IL
Posted

My Grandpa is alive and I can't remember if he "sold" me a property for a dollar or gave it to me when we did the transfer at the circuit clerk. 

What are the tax implications of either? I am doing my taxes and I "rent" that property to my dad. More less he pays all the bills and I make very little.

Thanks, 

Chase

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