Carl
Level 15

Get your taxes done using TurboTax

For federal taxes since the gift you gave in 2022 was more than $16,000 you need to file IRS Form 709 with the IRS. TurboTax does not support the form 709, and it does not get filed with your federal tax return. You can get a blank form 709 at https://www.irs.gov/pub/irs-pdf/f709.pdf. Just print it, fill it out and mail it to the address on page 5 of the  instructions at https://www.irs.gov/pub/irs-pdf/i709.pdf

Note that only the giver is required to file this form. You will "NOT" pay any type of gift tax, provided the total lifetime gift to any one individual is less than $11.6M. But there is still a reporting requirement for gifts given in 2022 that exceed $16K.

Neither the giver or the recipient reports the gift anywhere on their 1040 tax return. However, in your case the recipient will simply increase the cost basis of the house by the value of the gift given.