In-laws gift to daughter My wife and I are going to have a kid in late 2016 (due date is 12/23)- my wife's family is very wealthy and several members of her family would like to give my kid the $14k gift limit for 2016; is this at all possible since she will likely not have a SSN and bank account? Is there a way for the money transfer(s) to happen in 2017 but it apply to the 2016 tax year?
Thanks in advance for all your help!
R. |