1. I own a rental home in California. How can I leave it to my daughter so she can avoid capital gains taxes?

    I own a rental home in California. How can I leave it to my daughter so she can avoid capital gains taxes?

    Dear MarketWatch, I live in California and own a single-family rental property that has a tenant with a 12-month renewable lease. The home is in a revocable trust. I would like to leave the property to my daughter. I have one other child who I don’t intend to leave any of this property to. My daughter will probably keep the property as a rental, but she might use it as a second home and/or as a partial, week-to-week vacation rental.

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    1. Assets that bypass the estate through a trust or another mechanism are usually not eligible for a step-up in basis.
    2. There might be some complications if there is a mortgage on the rental property, so that needs to be considered.
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