Capital Gains Tax
I am selling a piece of real estate property. The proceeds will be spilt evenly to my 3 children. How do I avoid/reduce my taxes after the sell. It will be a 450,000 profit. The property is in California but I am now a resident oof Texas. Do I still have to pay the state of Clifornia tax. Is there a way I can gift the proceeds to my children without being taxed. Please advise.
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