I bought a house two years ago for 1 dollar. With thought of remodling it. It end up being to much for me to handle. So my parants helped me out. It endup being they paid for everything. SO doing the right thing i transferd the house to them. We wrote everything upa s them paying me 10000 for the place as that was what i had in it. most of which was labor. At the time i used the money to fix up a truck that i traded on another and ate some money on. Then i traded it on a buy here pay here an lost some more money. Then i had to give it back and bought the 07 i have now from my dad. I blow through the bulk of the money and bull Sh*t. It has been a year and 2 months since the transfer.
Is it late enough since the transfer that i do not need to claim it.
Is it late enough since the transfer that i do not need to claim it.
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