father shaking hands with son to sellproperty with real estate agent in background

Can a Father Sell His Property to His Son? [ANSWERED]

A father may sell his property to his son. If he sells it at a discount that exceeds $16,000 off of the value, the IRS considers that portion to be a gift, and he (the son) must report it. The IRS will deduct the difference between the selling price and fair market value from the son’s lifetime tax exemption of $12.06 million.

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Can I Change My Last Name to My Stepfather’s?

You can change your last name to your stepfather’s. You will not need your parents’ approval if you are 18 years old or above. You can also change your last name to your stepfather’s if he adopts you, under the age of 18. However, your biological father must relinquish his parental rights if you are a minor.

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