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Arvind Saxena replied to a comment
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Zain Jaffer It would still be a gift though and you'd get hit with gift tax.
Arvind Saxena replied to a comment
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RJ Garbowicz No, a loss on primary residence is not deductible as a capital loss.
Arvind Saxena replied to a comment
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Shaily Hakimian - Social Media Sherpa Yes, and also the tax deduction for donating to charity. OP instead gave a large gift which has worse tax treatment
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