GeorgeM777
Expert Alumni

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No, this does not appear to be a gift.  Moreover, according to how the IRS defines a gift, this also does not appear to be a gift.  According to the IRS, you make a gift if you give property (including money), or the use of or income from property, without expecting to receive something of at least equal value in return.  If you sell something at less than its full value or if you make an interest-free or reduced-interest loan, you may be making a gift.

 

In your description, you say that your partner is interested in buying a percentage of the home.  Depending on the percentage the partner owns, if the down payment reasonably equals the partners percentage interest in the home, then under IRS guidance, no gift has been made.  However, as noted above, if your partner should receive a percentage interest in the home that exceeds the value given (i.e., the $30,000 down-payment) then there may be a gift for the value received that exceeds the amount paid.  

 

@sdsmith1221

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