Tax Traps You Need To Know
Your parents' home is probably their biggest asset — but when it's time to sell, inherit, or change title, the tax consequences can catch families completely off guard. In this episode of The Aging Parent Podcast, host Valerie sits down with Jordan Marks, San Diego County Assessor, to break down everything you need to know before you or your parents are put in that situation.
We cover Proposition 19 and how it changed parent-to-child property tax transfers, the step-up in basis and why adding your kids to title too early could cost you $150,000 in capital gains, the senior transfer rule that…
The skinny
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