itonewbie
Level 15
12-06-2019
11:29 PM
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Whether the son had lived in the house is irrelevant. Agree it was a gift and your client along with the father's estate should check if a gift tax return was filed back then for the transfer.
It may well be that the father had erroneously recognized a loss or treated that as §267 disallowed loss but none of the should matter.
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Still an AllStar
Still an AllStar