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Get your taxes done using TurboTax
@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?
‎January 24, 2025
9:59 AM