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I have a condo that has been a rental property since I purchased

I have a condo that has been a rental property since I purchased it in 1995 for 50,000 I would like to sell it to my brother for 100,000 but I am giving him a gift of equity of 20,000 so he doesn’t need a down payment. What kind of tax situation am I putting myself in?

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I have a condo that has been a rental property since I purchased

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This entry was posted on Wednesday, September 23rd, 2009 at 4:52 am and is filed under JustAnswer. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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