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Updated over 7 years ago,
Built 2 duplex's cash, how to gift to children?
Both I and son have FT jobs W2. I bought land, built 2 duplexes son was general contractor took no pay, all leased. I don't want to pay tax on rental income, should I gift property to him and let him borrow 80% to pay me back? Got 320K in. Could use lifetime exclusion.