I lived in a condo in South Carolina for 5 years (purchase price of $72,000), and then rented it out for 6 years. Last October I had an attorney transfer the property into a Irrevocable Trust for my two older children. The property will no longer be rented. When doing my taxes the H&R Block program asks for the selling price, depreciation, etc. When I entered $0 it asked that I enter an amount. How do I figure the market value of the gift and what form number do I need to use for the transaction on my taxes. What is the best way to treat the transfer to avoid a large capital gain for my children when they sell it later on? I didn't get a Tax ID yet because there is no income from the Trust property. Paying taxes, H.O.A. fees etc. can I make personal checks to pay these expenses?