Are you saying it's a completed gift right now or it would be a completed gift if we were to take our names off the deed and transfer our 2/3 of the property to my daughter? And if it is not considered a completed gift right now, do we still have to file the 709 and claim that the down payment and mortgage payments we made towards the purchase of the property are a gift?
Also she did sign the mortgage note (I noticed down below that you said she did not)...all 3 of us are on the deed and on the mortgage if that makes any difference in terms of this being a gift.
Sorry for all the questions...we are confused and trying to learn as much as we can!
