My client wants to buy a 2 family house. Over time he wants to make yearly $12,000 gifts of an interest in the property it to his daughter. At the time of the purchase he wants to write a contract that his daughter gets curernt year income and expenses from the property (she will own say 3% in year one) and he gets capital gains on the sale. Can he do this? Please consider when the house is sold he will own say 70% of the house and she will own $30%.
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