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MADISON — How much and what taxes to cut is one of the largest remaining questions for the Legislature’s budget-writing committee to tackle th…

Q: I have lived in my parents’ house for the past 19 years. I’ve been paying rent the entire time. They want to sell it to me for less than the market value but are afraid of the huge capital gains taxes. The home was purchased 19 years ago for $120,000 and the home has doubled in value. If they sell the home to me under the market value, are they still responsible for capital gains taxes on the market value?

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