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<div class="moz-cite-prefix">On 4/10/2021 6:46 PM, John J. Sullivan,
Esq. wrote:<br>
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cite="mid:058a01d72e74$8dff6cd0$a9fe4670$@comcast.net">
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<div class="WordSection1">Once that’s “old and cold,” the sale by
the daughter can close, be reported solely under her SS# on the
1099 and assuming she has fulfilled the ownership and residence
rules should be able to apply the full $250K exemption to 100%
of the sale. This also eliminates the complications of
characterizing it as a gift. <o:p></o:p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">John J. Sullivan<o:p></o:p></p>
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<p>Can you elaborate on aging the deed and how that matters for
1099s? I was unaware of any connection beyond being outside the
escrow for sale.</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
206 723-2148</pre>
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