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If record a new deed to my house and include my son as a joint tenant. If I kick the bucket and my son sells the house. Would he be liable for federal cap. gains tax. If so what would be his basis, being he paid nothing for the house. Would the State want some tax money? If I list my son as the beneficiary on my bank CD and I die, will my son have federal or state tax liability on the value of the CD when he sells it?
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