Nothing is missing. You seem to be on track. This gift is not a taxable transaction for you.
You don't need to report the gift of a rental property on your income tax return because there wasn't a taxable event (i.e. gain or loss on sale or disposition). You just need to report it on Form 709 United States Gift (and Generation-Skipping Transfer) Tax Return).
Actually, you did everything right. On the asset entry worksheets, in the disposal section, just enter the date it was disposed (gifted), with no sales price, that will remove it from the return as of that date with no "sale".
Be sure to printout the Depreciation schedule for your son, he will need that to setup the rental on his return.
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