Selling Your Home to Your Kids for 1 Dollar - The Balance
https://www.thebalance.com/can-i-sell-my-home-for-a-dollar-3505414
Dec 06, 2021 · What If the Recipient Sells the Property? Your child inherits your tax basis—basically what you paid for the property—when you transfer it to them as a gift during your lifetime. If they turn around and sell the house for its $200,000 value, but you only paid $50,000 for the property way back when, they must report and pay tax on a $150,0000 capital gain, the …
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