Client had heard that there was a Trump tax break (capital gain) for sellin assets (land) to a relative. Was not heard at barber shop or beauty shop or coffee shop but from a cousin, so you know how that goes.
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Perhaps this Cousin will takeover as the new tax preparer!!! He gives a better deal.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
The same rates apply to a relative as a non-relative.
As it has been for a long time, there could be restrictions for claiming a capital loss when selling to a relative.Comment
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I did research, and of course didn't find anything, but just wanted to ask from my learned colleagues in case there was something hidden I missed.Comment
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Yeah, it can be fairly easy to find something that DOES exist, but it can be quite difficult to prove that something does NOT exist. :-)Comment
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