Skip to main content
January 27, 2020
Question

Gifted my share of rental property

  • January 27, 2020
  • 1 reply
  • 0 views

I gifted my share of rental property in 2019. I know I have to complete a Form 709 separately from my taxes. Should I add a note on my 2019 tax return to explain what I did?  If so, how do I add a note?  At the moment, I just have the date of the transaction and $0. 

    1 reply

    RobertG
    January 27, 2020

    There is nowhere to report a gift on the Form 1040, you just report it on Form 709.  

     

    For further information please see the TurboTax website: Where do I report a cash gift?

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"