[wakefern58]

My review materials state that the related party rules for basis are the same as gift tax rules. If an individual sells property to a related party for a price less than his or her net book value, the recipient’s basis depends upon the future selling price to an outside third party.

But my question is, If the individual were to sell the property to a related party at a price ABOVE the net book value, wouldn’t the recipient’s basis be the FMV price?

BEC - 77

AUD - 85

REG - TBD

FAR - Q2

[smoothiezguy]

Not if the individual is a related party.

BEC - 83 x1
FAR - 87 x1
AUD - 71 | 82 x2
REG - 93 x1

I'm Done!!!

CMA - 430
BEC - 83
FAR - ?
AUD -
REG -

[Author]

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