cmessmer97 cmessmer97

30-01-2020
Business

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

Respuesta :

bigfatom bigfatom

02-02-2020

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.

Explanation:

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