ANSWERS: 2
  • You may be creating a real nightmare by adding your daughter to the deed as you now will have a 'gift tax' return to do and possible gift tax consequences. And this will not affect your capital gains at all....if you are selling the property, why put her on it at all?
  • Create a life estate deed with her as the remainderman, there will be no capital gains for anyone if the property is valued under $500,000. She can sell the home at her descretion whenever she may need the money or want to own something else.

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