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What is legal with quitclaim deeds and gift taxes and capital gains taxes?

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dean5665

Junior Member
North Carolina

I am filling out a quitclaim deed for some property that I own jointly with my 3 sisters and mother. I am turning over the land to just two of my sisters and in turn they were going to gift me the amount (less than $11,000) of the approximate value of the land. Is this legal and will this help me avoid paying capital gains tax?
 



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