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Would your answers depend on whether parent regularly

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Reference no: EM133472374

Case: Parent gives the rent-free use of the family beach house to adult child. What are the gift tax consequences if:

a. Child personally uses the beach house?

b. Child rents the beach house to a tenant?

Would your answers depend on whether parent regularly rented the property or used it for personal use?

Reference no: EM133472374

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