pk
Level 15
Level 15

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@almi26 , a beautiful country, from pixes.

 

I do  not believe this is a gift.    A gift would be  if you gave something   ( of value )  to someone  and  expecting / receiving nothing in return.

In your case you are having your sister  providing a service to you  -- the money is yours  and  after the transaction, the property is yours. She  is gifting her time/ effort and ac ting as your agent.  So I do not believe  you have to file a gift form with the IRS.

For future reference, please keep all records  of expenses in acquiring this prop. -- whether you use it as  income property , second home  or whatever , you will need to establish your basis  at the time of acquisition.

 

Is there more I can do for you?