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10 September, 03:35

A gifted depreciable business equipment to her brother. how do you report it if brother sells the equipment

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  1. 10 September, 03:56
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    Answer: It is a No problem gift.

    The first type of no-problem gift is personal property.

    on which you did not claim Section 179 expensing,

    that is not listed property, and

    that would not produce a deductible tax loss if sold by you.
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