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What section covers a Gift of Equity

I sold my house to my son in 2023 and I am trying to figure out where to enter it.
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KrisD15
Expert Alumni

What section covers a Gift of Equity

If it was a gift, and the value was over 17,000, you won't report it on your 1040, but you will file a Form 709 Gift Tax Return. 

 

TurboTax does not offer that, 

you would need to print Form 709 and mail it. 

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