I am selling a house that my late husband and I own in a community property state. Because of the 100% step-up in cost basis for the house due to my husband’s death plus the cost of improvements we made to the house, I won’t owe any capital gains taxes. I’d like to give my brother $125K of the proceeds as a gift all at once. Can I do that without either of us owing any taxes, or do I need to give him a maximum of $19K per year? I have never gifted anyone else anything. Also, will I need to file any IRS forms for the gift with my 2025 federal return?
