gift of real estate to child

[tomwilloughbyestate]

I am giving low basis investment real estate to my duaghter, she is also assuming the debt whci is more than basis.   We are below the $13.6 mm gift tax limit. are ther tax consequences for the giver. 

[Bsch4477]

If the gift value is under $18,000 ($36,000 MFJ) there’s nothing to be done. If over that amount a gift tax form 709 must be filed but no tax will be owed.