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Updated about 8 years ago,
Transferring/gifting property
My mother is near the end of her working life and wants to get rid of her 3 rental properties/duplexes. Our thoughts are that she could transfer/gift them to me to take over and I would in turn split the cash flow with her to supplement her retirement income. Would this have a large negative effect on her taxes and/or does this seem like a reasonable business move? Location is Wisconsin