<div dir="ltr">Thanks very much to all who contributed. <br clear="all"><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div style="font-family:Arial,Helvetica,sans-serif;font-size:small;letter-spacing:normal"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><span style="background-color:transparent;color:rgb(110,143,148);font-family:"Open Sans";white-space:pre-wrap"><b><font size="4">DOUGLAS W. SCOTT</font></b></span><br></div></div></div></div></div></div></div></div></div></div></div><div style="font-family:Arial,Helvetica,sans-serif;font-size:small;letter-spacing:normal"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div><span style="font-family:georgia,serif">Rainier Legal Advocates|LLC</span></div><div><br></div><div><span style="font-family:georgia,serif">465 Rainier Blvd. N., Suite C </span></div><div><span style="font-family:georgia,serif">Issaquah, Washington 98027 </span></div><div><span style="font-family:georgia,serif">425.392.8550 (tel)</span></div><div><span style="font-family:georgia,serif">425.392.2829 (fax)</span></div></div></div></div></div></div></div></div></div></div></div><div style="font-family:Arial,Helvetica,sans-serif;font-size:small;letter-spacing:normal"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div><font face="georgia, serif"><b><br></b></font></div><div><br></div><div><br></div><div><a href="http://www.rainieradvocates.com/" style="color:rgb(17,85,204);font-family:georgia,serif" target="_blank">www.rainieradvocates.com</a><br></div><div><br></div><div><br></div><div dir="ltr"><span style="font-size:9pt;font-family:"Open Sans";color:rgb(105,93,70);background-color:transparent;vertical-align:baseline;white-space:pre-wrap">Notice: This communication, including </span><span style="font-size:9pt;font-family:"Open Sans";background-color:transparent;vertical-align:baseline;white-space:pre-wrap"><font color="#666666">attachments</font></span><span style="font-size:9pt;font-family:"Open Sans";color:rgb(105,93,70);background-color:transparent;vertical-align:baseline;white-space:pre-wrap">, may contain information that is confidential and protected by the attorney/client or other privileges. It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution, or reproduction of this e-mail, including attachments, is prohibited and may be unlawful. Receipt by anyone other than the intended recipient(s) is not a waiver of any attorney/client or other privilege</span></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div><br></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Sat, Apr 10, 2021 at 7:38 PM Kary Krismer <<a href="mailto:Krismer@comcast.net">Krismer@comcast.net</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
<div>
<p>Thanks. BTW, I had this issue come up last month but I
represented the buyers so I didn't dig into it. My only concern
was getting the parents to sign the FIRPTA because the kids had
thought they already had done a QCD beforehand and the parents
were not listed as sellers (and the listing agent apparently
didn't check before listing).</p>
<p>I really with the NWMLS would make an preliminary commitment
attached to the listing mandatory.<br>
</p>
<pre cols="72">Kary L. Krismer
206 723-2148</pre>
<div>On 4/10/2021 7:29 PM, John J. Sullivan
wrote:<br>
</div>
<blockquote type="cite">
The 1099 is mechanical. In this case a week might suffice. Just an
old tax attorney habit to create some breathing room between steps
to avoid the IRS’s “step transaction” analysis.
<div><br>
</div>
<div>I say a week because if mom really has no equity interest the
risk would seem pretty remote. </div>
<div><br>
</div>
<div>John Sullivan. <br>
<br>
<div dir="ltr">Sent from my iPhone</div>
<div dir="ltr"><br>
<blockquote type="cite">On Apr 10, 2021, at 7:19 PM, Kary
Krismer <a href="mailto:Krismer@comcast.net" target="_blank"><Krismer@comcast.net></a> wrote:<br>
<br>
</blockquote>
</div>
<blockquote type="cite">
<div dir="ltr">
<br>
<div>On 4/10/2021 6:46 PM, John J.
Sullivan, Esq. wrote:<br>
</div>
<blockquote type="cite">
<div>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. <u></u><u></u>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">John J. Sullivan<u></u><u></u></p>
</div>
<br>
</blockquote>
<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 cols="72">Kary L. Krismer
206 723-2148</pre>
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