July 14, 2024
I inherited a lake house, but want to give my share to my sister. How can we do this — and avoid paying taxes?

I inherited a lake house, but want to give my share to my sister. How can we do this — and avoid paying taxes?

I want to give my share of our lake house to my sister. How can I avoid taxes? – MarketWatch “,”email”:”[email protected]”,”url”:”https://www.marketwatch.com/author/andrew-keshner”,”image”:”https://images.mktw.net/im-784642?width=816&height=816″,”sameAs”:”https://www.marketwatch.com/author/andrew-keshner”}],”thumbnailUrl”:”https://images.mktw.net/im-834502?width=1280&size=1″}] ]]>

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” : ‘int.’; const baseUrl = LOGIN_URL[window.utag_data.page_site_product]; const loginUrl = `https://${prefix}${baseUrl}`; const targetUrl = new URL(window.location.href); targetUrl.searchParams.set(‘isGaa’, true); window.location.href = `${loginUrl}?target=${encodeURIComponent(targetUrl)}`; }); }); }, getRegisterUserPromise() { return new Promise(() => { window.GaaMetering?.getGaaUserPromise() .then((credential) => { window.__googleEA?._registerUser(credential); }); }); }, showPaywall() { const SHOP_URL = { prod: { WSJ: ‘https://subscribe.wsj.com?target=’, BOL: ‘https://subscribe.barrons.com?target=’, FN: ‘https://partner.fnlondon.com/p/1140300052/eligibility?mod=subscribe-google-ea&targetURL=’, MW: ‘https://subscribe.marketwatch.com?target=’ }, dev: { WSJ: ‘https://subscribe.wsj.com?target=’, BOL: ‘https://subscribe.barrons.com?target=’, FN: ‘https://partner.s.dev.fnlondon.com/p/p_fnlondon/eligibility/?mod=subscribe-google-ea&targetURL=’, MW: ‘https://subscribe.marketwatch.com?target=’ } }; const product = window.utag_data.page_site_product; const targetUrl = new URL(window.location.href); targetUrl.searchParams.set(‘isGaa’, true); window.location.href = `${(SHOP_URL[envGoogleEA] || SHOP_URL.dev)[product]}${encodeURIComponent(targetUrl)}`; }, handleSwGEntitlement(productId) { return (entitlements) => { if (!entitlements || !Array.isArray(entitlements.entitlements) || !entitlements.entitlements.length) { window.localStorage.setItem(‘swg-call-delay’, Date.now() + (60 * 60 * 1000)); return; } let subscriptionToken; for (const entitlement of entitlements.entitlements) { if ((entitlement.source === ‘google’) && (entitlement.products.includes(productId))) { subscriptionToken = entitlement.subscriptionToken; } } if (!subscriptionToken) { return; } const isCxdjExist = window.setInterval(() => { if (window.cxdj?.meta?.topDomain && window.cxdj?.displaySwgScrim) { window.cxdj.displaySwgScrim(); clearInterval(isCxdjExist); } }, 100); }; }, getAllowedReferrers() { const PRODUCT_DOMAIN = { WSJ: ‘wsj.com’, BOL: ‘barrons.com’, FN: ‘fnlondon.com’, MW: ‘marketwatch.com’, MG: ‘mansionglobal.com’ }; const LOGIN_URL = { WSJ: ‘accounts.wsj.com’, BOL: ‘accounts.barrons.com’, FN: ‘accounts.dowjones.com’, MW: ‘accounts.marketwatch.com’, MG: ‘accounts.dowjones.com’ }; const SHOP_URL = { prod: { WSJ: ‘subscribe.wsj.com’, BOL: ‘subscribe.barrons.com’, FN: ‘partner.fnlondon.com’, MW: ‘subscribe.marketwatch.com’ }, dev: { WSJ: ‘subscribe.wsj.com’, BOL: ‘subscribe.barrons.com’, FN: ‘partner.s.dev.fnlondon.com’, MW: ‘subscribe.marketwatch.com’ } }; const product = window.utag_data.page_site_product; const productHostNamePrefix = envGoogleEA === ‘prod’ ? ” : ‘s.dev.’; const productHostName = `www.${productHostNamePrefix}${PRODUCT_DOMAIN[product]}`; return [productHostName, LOGIN_URL[product], `${(SHOP_URL[envGoogleEA] || SHOP_URL.dev)[product]}`]; }, _registerUser(credential) { const PRODUCT_DOMAIN = { WSJ: ‘wsj’, BOL: ‘barrons’, FN: ‘fnlondon’, MW: ‘marketwatch’, MG: ‘mansionglobal’ }; const EDITION_ID = { WSJ: ‘WSJ-EN_US’, BOL: ‘BARRONS-EN_US’, FN: ‘EFN-EN_US’, MW: ‘MARKETWATCH-EN_US’, MG: ‘MG-EN_US’ }; const REGISTRATION_SOURCE = { WSJ: ‘WSJ’, BOL: ‘BARRONS’, FN: ‘EFN’, MW: ‘MARKETWATCH’, MG: ‘MG’ }; const LOGIN_URL = { WSJ: ‘accounts.wsj.com/auth’, BOL: ‘accounts.barrons.com/auth’, FN: ‘accounts.dowjones.com/auth/fn’, MW: ‘accounts.marketwatch.com/auth’ }; const pageSiteProduct = window.utag_data.page_site_product; const registerUrlPrefix = envGoogleEA === ‘prod’ ? ” : ‘s.dev.’; const registerBasedUrl = `https://register.${registerUrlPrefix}${PRODUCT_DOMAIN[pageSiteProduct]}.com`; const registerEndpoint = `${registerBasedUrl}/api/createSocialConnectUser`; const loginUrlPrefix = envGoogleEA === ‘prod’ ? ” : ‘int.’; const loginBaseUrl = LOGIN_URL[pageSiteProduct]; const loginUrl = `https://${loginUrlPrefix}${loginBaseUrl}/google-login`; const targetUrl = new URL(window.location.href); targetUrl.searchParams.set(‘isGaa’, true); fetch(registerEndpoint, { method: ‘POST’, body: JSON.stringify({ id_token: credential?.credential, displayContextId: ‘SOCIAL_CONNECT’, returnUrl: window.location.href.split(‘?’)[0], editionId: `${EDITION_ID[pageSiteProduct]}`, registrationSource: `${REGISTRATION_SOURCE[pageSiteProduct]}` }), headers: { ‘content-type’: ‘application/json’, } }) .then((response) => { if (!response.ok) { console.error(‘GoogleEA: Social Connect Invalid Status Code’); return; } return response.json(); }) .then((userState) => { if (!userState) { console.error(‘GoogleEA: Social Connect No Data’); return; } window.location.href = `${loginUrl}?target=${encodeURIComponent(targetUrl)}`; }) .catch((err) => { console.error(`GoogleEA: Social Connect Err: ${err}`); }); } }; })() ]]>

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Tax Guy

Last Updated: Aug. 15, 2023 at 12:59 p.m. ET First Published: Aug. 14, 2023 at 10:33 a.m. ET

‘What would be the most tax-efficient way to sell or transfer ownership to my sister?’

‘Wading through the tax code is the relatively simple part. Navigating the family dynamics is where the waters could get choppy.’

MarketWatch photo illustration/iStockphoto

Dear Tax Guy,

[]My brother, sister and I inherited a lake house in Texas from my mother, who passed away in 2017.

[]My sister would like to keep it, but my brother isn’t interested in keeping his share, and I would like to sell or transfer my ownership to my sister.

[]What…

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