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<p class="MsoNormal">Not when the gift is made; but giftee takes giftor’s basis; so when later sold or tradedthe 20k would be part of the capital gain calculation.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Roger Hawkes, WSBA # 5173
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<p class="MsoNormal"><i><span style="font-size:14.0pt">Shoreline</span></i> Office: 19944 Ballinger Way NE<o:p></o:p></p>
<p class="MsoNormal"> Shoreline, WA 98155<o:p></o:p></p>
<p class="MsoNormal"><i><span style="font-size:14.0pt">Sultan</span></i> Office: 423 Main<o:p></o:p></p>
<p class="MsoNormal"> Sultan, WA 98294<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Phone: 206 367 5000; fax: 206 367 4005<o:p></o:p></p>
<p class="MsoNormal">Email: <a href="mailto:roger@law-hawks.com"><span style="color:#0563C1">roger@law-hawks.com</span></a>
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<p class="MsoNormal">Web site: <a href="http://www.hawkeslawfirm.com/"><span style="color:#0563C1">www.hawkeslawfirm.com</span></a><o:p></o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Craig Blackmon<br>
<b>Sent:</b> Tuesday, April 20, 2021 4:57 PM<br>
<b>To:</b> WSBA Real Property List Serve <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Capital gain tax on gift of equity<o:p></o:p></p>
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<p class="MsoNormal">'Mates, seller gifts $20k in equity to buyer. Does the seller owe capital gains tax on that $20k?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Thanks for any insight you can provide.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Craig<br clear="all">
<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:9.5pt">Craig Blackmon, <a href="https://www.mywsba.org/PersonifyEbusiness/LegalDirectory/LegalProfile.aspx?Usr_ID=000000029240" target="_blank">Attorney at Law</a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#212121">92 Lenora St. #8, </span><span style="font-size:12.0pt;font-family:"Arial",sans-serif;color:#212121">Seattle WA 98121 </span><span style="font-size:9.5pt"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#212121">Office/Cell: (206) 369-5949</span><span style="font-size:9.5pt"> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.5pt">On the blog: <a href="http://seattlepropertylawyer.com/blog/how-to-read-and-understand-a-title-report" target="_blank">
How to Read (and Understand) a Title Report</a><o:p></o:p></span></p>
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</span><a href="https://www.fsbolawyers.org/" target="_blank"><span style="font-size:9.5pt;text-decoration:none"><img border="0" width="96" height="92" style="width:1.0in;height:.9583in" id="_x0000_i1025" src="https://drive.google.com/a/lawofficeofcraigblackmon.com/uc?id=1uOJNigm0yzzeN5xhdzTXoGcHNRdd1U6q&export=download"></span></a><span style="font-size:9.5pt"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.5pt">CONFIDENTIALITY NOTICE: This communication is a private, confidential electronic communication encompassed by 18 USC 2510. It is for the sole use of the intended recipient and receipt by anyone other than the
intended recipient does not constitute a loss of its confidential or privileged nature. Any review or distribution by others is strictly prohibited. If you are not the intended recipient please inform the sender and destroy all copies.<o:p></o:p></span></p>
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