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Old 04-12-2016, 02:50 PM
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I sold a business, can I sell my home to a family member for a loss to offset the tax on the business?

I sold a business, can I sell my home to a family member for a loss (at appraised value) to offset the tax on the business?

My home is worth at least $100,000 less than what I paid for it, which is what I sold my business for, but I want to continue to live in the home. I started the business myself and didn't buy it from anyone.

Is there any way to get the write off and still be able to live in the home?

TIA



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