Transfered title to a second home that was registered in my wifes trust to my daughter. What tax form must we use.

[Anonymous_]

Was this an outright gift? If so, it is likely that Form 709 would need to be filed.

See https://www.irs.gov/instructions/i709#en_US_2023_publink16784xd0e314

[Mike9241]

if this was indeed a gift, your daughter needs two other pieces of info. Your wife's tax basis in the house and its fair market value on the date transferred. these amounts will be crucial if and when the property is sold.

Doing this now will save a lot of headaches when the house is sold in the future. 

[JamesG1]

This appears to be a gift.

IRS Publication 551 Basis of Assets, page 9 states:

To figure the basis of property you receive as a gift, you must know 

• its adjusted basis to the donor just before it was given to you, 
• its FMV at the time it was given to you, and 
• any gift tax paid on it.

If this is a gift, the gift tax is computed on IRS form 709 United States Gift (and Generation-Skipping Transfer) Tax Return.  TurboTax does not support this form.

You may want to contact a local tax professional to accurately report this transaction.

@EJB4