Transferring money to your sister is probably a gift, so it’s not taxable.
If you made a gift of more than $17,000 to your sister in 2023 then you would file a Form 709 in 2023 to reduce your lifetime exclusion amount which in 2023 is $12.92 million dollars.
You would not pay any tax. Your lifetime exclusion from estate and gift tax simply goes down. If you are leaving the U.S. permanently, you would not need the exclusion.
Learn more about the gift tax at The Gift Tax Made Simple.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
