It's already a year into this well know crime, with the help of a lawyer in the country where the apartment is and where I live, I transferred the apartment to my daughter.
All parties involved (myself, my spouse, my daughter our lawyer) are very well aware that in about 3 years, we intend to sell the apartment and my daughter will pay off our mortgage and gift the rest back to me.
The country where I live, I was assured by the lawyer, is fine with this setup and will continue to hold me in high regard. Let's make this a given so we can get to the quesion.
The question is, how to deal with the IRS?
My question is, since we expect to sell the apartment down the road and get the benefit of the proceeds one way or another, do I fill out a form 709 for the year 2023 in case the IRS gets an update from the country that I live in that the apartment is now transferred to my daughter or continue to report the rent in my name each year as I have done all along and act that nothing happened and when the apartment is sold one day, the IRS will see it sold under MY name and I just pay the tax based on the gain.
I am trying to avoid paying any taxes or stepping on the toes of the IRS until the apartment is sold.
I thank all you financial experts who have helped me all along. I may not be popular here but I appreciate this list.