Quote:
Originally Posted by oh come on!
yeah, I know.
But this guy thinks he'll have to give 45% of $500k to the IRS, and I want to show him it's not true.
Capital gains rate is 20% last I checked. and even so, he has a $490k stepped up basis, which wipes out any capital gains due.
When his wife died mid-2015, he got his home appraised. So I think he thought about selling, but never followed through.
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I'm not a professional, but if it's done verbally and you tell him an anecdote on what you know and tell him to look into it, and verify it for himself, I don't think that's crossing the line. You can say if you are at all considering selling "from what I understand" .... If he has the wrong info and misconception that he will have to pay 45% of a large portion I don't see how advising him to look into it can be deemed as a promise or against any regulation. If you know actual facts about other transactions that meets his situation or of others agents clients you can share with him info, but I would not proceed unless he has proof that he's spoken to a professional and have him sign a waiver that you did not promise any tax benefits or savings.
You are passing along info and not promising anything. It is to entice him to sell, but he does not have to list with you so it's his choice.
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