sjrcpa
Level 15
12-20-2024
09:05 PM
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And what's wrong with filing a gift tax return?
You can elect to treat the gift as made ratably over 5 years. 1/5 of $80 is less than the annual exclusion so he's not even eating into his lifetime $13 million exemption.
If no other gifts made in Years 2-5 no filing required.
The more I know the more I don’t know.