Inherited or Gifted Real Estate in Florida – Five Things You Should Know
Posted by Gwinn Volen on
Written by Francie Peters, an experienced investment management professional.
We asked her to explain gifted real estate with her expert knowledge. She provided a valuable article about the tax consequences and best ways of gifting property, we hope you find it beneficial.
Inherited or Gifted Real Estate in Florida – Five Things You Should Know
Are you trying to decide what to do with inherited or gifted real estate? The financial and emotional decisions on what to do with the property can be overwhelming. It is important to understand some of the jargon used in these types of situations. For example, what does “cost basis” mean? What is a “step-up?” Will the $500,000 capital gains exemption for married couples apply to inherited real estate?
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