asked

My parents inherited my deceased brother's house in Fountain Valley, Calif. this year. My brother bought it for $600K in 2017. Zillow shows it's now worth $800K. Do you see any IRS problems if my parents sell it to me for $600K even though it's worth $800K? I would purchase it through a 1031 exchange. I happen to be in the 45-day identification period.

May 27th, 2024

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