[WSBARP] Another Excise Tax AFF Question

[Nestor Gorfinkel]

A and B own property jointly. Property valued by Property Appraiser as $271,000 (each own $135,500).

When A transfers to B, there is a total debt of $322,880; therefore, excise tax is based upon $166,440.

On the Excise tax supplement, under paragraph 2, how much would be the gift of equity? DO we put $0.00 or -$30,840?

Nestor Gorfinkel, Attorney at Law
Licensed in Florida & Washington State
Florida Civil-Law (International) Notary

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