When the 20,000.00 is paid, title of ownership is transferred, the gift of 80,000.00 is recognized, Market value is still 100,000.00,
Then the recipient's basis = 100,000.00
I think....
Or...assuming there are two receivers....80,000.00 less 28,000.00 = 52,000.00 subject to gift tax.
Or...assuming two parents, and two receivers....80,000.00 less 56,000.00 = 24,000.00 subject to gift tax.
I think..?..
WASHINGTON — The IRS, state tax agencies and the tax industry today warned tax professionals to beware of spear phishing emails, a common tactic used by cybercriminals to target practitioners.
Spear phishing emails, often tailored to individual practitioners, result in stolen taxpayer data and fraudulent tax returns filed in the names of individual and business clients.
https://www.irs.gov/uac/newsroom/dont-take-the-bait-step-1-avoid-spear-phishing-emails