The Tax Shelter
Level 2
04-07-2021
06:11 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a similar situation. Fully depreciated rental property purchased in 1972 was donated. Purchase price of asset was $30,992. Hud-1 to recipient shows "gift" of $43,959 + expenses.
1. I am assuming the gift is $43,959 ?
2. Is there any gain on the disposition?
A.C. Stickel