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Old 03-27-2017, 09:14 AM
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form 709

Im married I gifted a property which is assesed for 34,000 to my son and daughter in law do I have to file a form 709



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Old 03-27-2017, 09:16 AM
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Im married I gifted a property assessed at 34,000 to my son and daughter in law do i have to file a form 709



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Old 03-28-2017, 01:06 AM
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Originally Posted by angelam44 View Post
Im married I gifted a property which is assesed for 34,000 to my son and daughter in law do I have to file a form 709
correct since th egift amt exceeds $28K; A split gift permits the $14kannual gift tax exclusion per recipient to effectively be $28k per recipient when the gift originates from a married couple



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Old 03-28-2017, 08:50 AM
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So my answer is yes i do have too?



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Old 03-28-2017, 04:20 PM
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Originally Posted by angelam44 View Post
So my answer is yes i do have too?
as mentioned above; yes you need to file form 709 with the IRS



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Old 03-29-2017, 10:18 AM
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I thought I could give 14,000 to my son and 14,000 to my daughter in law and then my wife could give 14,000 to my son and 14,000 to my daughter in law equals to 56,000 or because its gift splitting I have to file the 709 Im sorry for all the questions but this 709 form is very confusing



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Old 03-29-2017, 04:06 PM
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Originally Posted by angelam44 View Post
I thought I could give 14,000 to my son and 14,000 to my daughter in law and then my wife could give 14,000 to my son and 14,000 to my daughter in law equals to 56,000 or because its gift splitting I have to file the 709 Im sorry for all the questions but this 709 form is very confusing
correct in this case no you do not need to file form 709 with the IRS



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Old 03-30-2017, 09:00 AM
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Thank You very much for your help very much aprreciated



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Old 03-30-2017, 04:33 PM
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Thank You very much for your help very much aprreciated
Good luck~~



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