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Do I need to file form 709?
I transferred $25k in total to my child during 2022 from the joint bank account with my husband. Do I and my husband need to file form 709 even though the taxable gift amount is going to be $0 after splitting 1/2 and deducting the annual gift exclusion? Would the annual gift exclusions be $32k for a married couple if the gift money is transferred out from a joint bank account?
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March 6, 2023
8:32 PM