Thank you for your response. I read the 709 instructions and I do understand that we have to file the form since our gift was larger than the $34,000 annual exclusion (total for my husband and I). What we are trying to determine is how much the gift total is. Since my husband and I are owners of the property along with our daughter, is our "gift" to her 1/3 of the down payment that was due at closing? And the poster above mentioned including the mortgage payments (that were paid by my husband and I) in the total amount along with the down payment. Would we include 1/3 of the mortgage payment each month? Just principal or principal and interest?
Thanks for your help!
