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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121106  
Subject: Re: House value when converting to rental Date: 4/15/2014 5:52 PM
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I think you missed that the question you answered was linked to the prior question:

What about moving it to a family trust?

If you sold it at roughly fair market value, would there be a related party sales issue?


A sale at fair market value to a relative is not a problem.

What do you mean "is not a problem"? The OP was asking about the ability to exclude gains by 'selling' to a family trust. And by 'selling' it appears that the OP meant 'have a formal change of ownership'. Are you saying that the OP could have formally moved the title from "OP and spouse" to "OP and spouse Family Trust" and excluded the gain? Because that would be a problem.

AJ
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