The obvious question is: what should it return if the other cell is not
populated?
You probably want something along these lines:
=IF(A1="",xxxxxxxx,"")
where xxxxxxxx is what you want if the other cell is not populated.
You can return an empty string, but you can't return nothing (leave the cell
empty):
=if(a1<>"","",a1)
or
=if(a1<>"","","it's empty")
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