@Redan54 wrote:
Just making sure the IRS considers this as a "gift" everywhere so all I have to worry about is Form 709 and the rental stuff up until that gift date right?
In addition to what has been previously posted here, it is worth mentioning that both you (the donor) and the donee (recipient of the gift) need to know the fair market value of the property on the date of the gift and, further, you might want to seek professional tax and/or legal guidance in this matter.
