My daugher moved to the UK after marrying an British guy. I want to give her a money gift to buy a house ($200k). What is the tax implication for both of us?

[sergio-alvarez-r]

I would like to know what are the tax implication for both of us in the US and if there is any tax implication for her in the UK.

[xmasbaby0]

We cannot advise you on tax laws in the UK.   There is nothing your daughter has to do in regard to her U.S. return if you give her a gift.   But you will need to file a form 709 gift tax form yourself.

GIFTS

Money that you receive as a gift is not taxable income to you, and you do not need to report it on your income tax return.  Money that you gave as a gift to someone else is not deductible for your taxes.

Turbo Tax does not support the gift tax form 709, but here is a link:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

https://www.forbes.com/sites/ashleaebeling/2017/10/19/irs-announces-2018-estate-and-gift-tax-limits-...

[MinhT1]

If you gift money to your daughter, she does not have to report the gift on her tax US tax return as the gift is not taxable for her.

You as the donor have to file form 709 - Gift (and Generation-skipping transfer) Tax return as the gift is over $15,000.

Form 709 is not supported by TurboTax.

You can find the form here.

I cannot comment on your daughter's UK tax obligations.