Person A owns the title of a real estate. He added his son as a joint owner by filing Quitclaim Deed. The son later transferred his title to other relative by filing Quitclaim Dee. No one receive money out of these transactions.
Should these transactions be treated as a Sale with capital gain OR a Gift? If possible, could I receive answers also with pertinent source of document? Thank you very much. I appreciate your time and effort regarding this matter.
Should these transactions be treated as a Sale with capital gain OR a Gift? If possible, could I receive answers also with pertinent source of document? Thank you very much. I appreciate your time and effort regarding this matter.
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