Hi hbcrac,
With respect to gifts, it is the donor that pays the tax. You do not need to report gifts to any one individual if the amount is less than $16,000 for the tax year 2022 or $17,000 for tax year 2023. If more than that, then you will report the gifts on Form 709: United States Gift (and Generation-Skipping Transfer) Tax Return.
IRS Frequently Asked Questions on Gift Tax
| Year of Gift |
Annual Exclusion per Donee |
Annual Exclusion Total per Donee (from 2 spouses) |
| 2013 through 2017 |
$14,000 |
$28,000 |
| 2018 through 2021 |
$15,000 |
$30,000 |
| 2022 |
$16,000 |
$32,000 |
| 2023 |
$17,000 |
$34,000 |
I hope that answers your question.
Best Regards
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