TaxGuyBill
Level 15
04-05-2022
06:25 PM
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In my opinion, that reeks of a step transaction/economic substance transaction.
In a nutshell, you aren't allowed to claim one part is a gift and sell one part at a crazy inflated price just to try to save taxes.
If they are agreeable to it, you may consider how doing an Installment Sale would affect things.