Omega-6 linoleic acid is the most abundant polyunsaturated fatty acid found in the Western diet. Itâs plentiful in safflower and commonly available partially hydrogenated sunflower oils, two common cooking and food oils in use today.
Seller Basis. If you sell the house and pick up the transfer tax, then you can deduct that amount from the proceeds of the sale. This reduces your taxable gain. You can also use nondeductible commissions, escrow fees, recording fees and attorney fees to reduce the proceeds.
Transfers of real estate from one sibling to another generally are not taxable for federal or state income tax purposes unless consideration is paid. A no-consideration conveyance constitutes a gift. If the value of the gift exceeds $11,000, a gift tax return should be filed by the donor. Such a gift could have estate and gift tax consequences, particularly if the donor's estate exceeds $1 million. Your tax adviser should be consulted if you are planning to give away property of substantial value.