<prompt> Human: A current-event personal finance example in New York from an article at the Washington Post talks about the tax issues for selling real estate to family: If a sale between a parent and child is for fair market value, it does not trigger a gift tax. But if a parent sells two expensive condominiums to his son at a highly discounted price, for example, then the parent makes a taxable gift in part. In that case, the seller must pay a gift tax of up to 40 percent... Each taxpayer has a 5.49 million lifetime exemption a married couple has a combined 10.98 million exemption, meaning you can give away that much money without incurring the tax. To claim that a transaction is covered by the exemption, though, you must file a gift tax return. Well-advised wealthy individuals typically fully use their 5.49 million exemption by making gifts to family members as soon as they have the assets to do so.  <response>: Do you have a question or...? If youre in the situation where the lifetime limit actually matters, you should be speaking to a professional about the best way to handle your assets. 