They Bought the House for $118,000 in 1989 and Are About to Deed It to Their Daughter to Skip Probate. When She Sells It for $650,000, She’ll Owe Capital Gains Tax That Inheriting It Would Have Erased

A retired couple transferred their house to their daughter to avoid probate, but the strategy created a potentially more expensive issue at closing. The excerpt does not specify the cost or the nature of the problem.