My mother transferred the title of her home to me. Do I need to report this transaction to the IRS?

No, but your mother may be required to report this transaction to the IRS as a taxable gift. Generally, the transfer of any property or interest in property for less than adequate and full consideration is a gift.

On or before April 15 of the calendar year following the year in which a gift is made, the individual making the gift must file a gift tax return (Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return), if any of the following is true:

  • The total value of gifts the individual gave to at least one person (other than his or her spouse) is more than the annual exclusion amount for the year. The annual exclusion amount for 2023 is $17,000 and for 2024 is $18,000.
  • The individual and his or her spouse wish to split all gifts made by each other during the calendar year. (An individual may make a gift of the individual’s own property but treat the gift as having been made half by the individual and half by his or her spouse for Federal gift tax purposes, but only if both the individual and his or her spouse file a gift tax return (Form 709) consenting to this treatment for all gifts made during the calendar year. See Instructions for Form 709 for exceptions to consenting spouse’s filing requirements.)
  • The individual gave someone (other than his or her spouse) a gift of a future interest in property. (A donee has a future interest in property if the donee cannot actually possess, enjoy, or receive income from the property until some time in the future.)
  • The individual gave his or her spouse an interest in property that will end by some future event. (For example, if the individual gives his spouse a life estate in property, the spouse’s interest in the property ends at the spouse’s death.)

Note: If any of the above conditions apply, that individual must file a gift tax return (Form 709) even if a gift tax is not payable. See the Instructions for Form 709 and Publication 559, Survivors, Executors, and Administrators for additional information on gifts.

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