In October 2023 I gifted a rental property (single family home) to my son. I know I have to complete an IRS Form 709 to account for the gift but how do I explain the home’s disposal in TurboTax? On the screen entitled “Do Any of These Situations Apply to This Property?”. The “Learn More” instruction located next to the “Sold” box says “Do not check this box if the disposition was to a related party”.
