Capital Gains and Losses
Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP
Enter into an agreement to lease the property to the buyer until the death of both you and your spouse, at which time, the buyer shall have the option to purchase the property at a fixed purchase price. Your heirs will receive a step up in basis on the entire property value to fair market value as of the date of death, and as a result, there will be no capital gain to them at all.
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