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Deductions & credits
Both you and @fanfare misunderstood the last paragraph of my previous post.
You own a house with a FMV of $200,000. You give someone $25,000 in cash, but only with the understanding that they will purchase your house for $200,000 instead of $175,000. The $25,000 you gave that person (buyer) is not a gift.
‎August 22, 2021
9:18 AM