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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">No gain on gift donee takes donor’s basis so when sold donee will pay tax on gain over donors basis, but for gift tax purposes if there is one property is valued
at FMV as of date of gift.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Bryce H. Dille<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Dille Law, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">2010 Caton Way SW Ste. 101<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Olympia, WA 98502<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Office: 360-350-0270<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Cell: 253-579-5561<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">** Please note that I use the dictation feature of my iPhone and that sometimes everything I say does not get properly translated**<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">This transmission contains confidential attorney-client communications and may not be disclosed to any person but the intended recipient(s). If this matter is
transmitted to you in error, please notify the sender immediately. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real
Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments
Real Property Foreclosures and Forfeitures.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> 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></span></p>
<p class="MsoNormal"><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-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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<p class="MsoNormal"><span style="font-size:9.5pt"><img border="0" width="97" height="60" style="width:1.0104in;height:.625in" id="_x0000_i1025" src="https://drive.google.com/a/lawofficeofcraigblackmon.com/uc?id=1hQRIEe9StVVNNSx58ImicjsXMNCAUmxM&export=download">
<a href="https://www.fsbolawyers.org/" target="_blank"><span style="text-decoration:none"><img border="0" width="96" height="92" style="width:1.0in;height:.9583in" id="_x0000_i1026" src="https://drive.google.com/a/lawofficeofcraigblackmon.com/uc?id=1uOJNigm0yzzeN5xhdzTXoGcHNRdd1U6q&export=download"></span></a><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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