- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
@Alancop just to round out the comments/answers by my Colleagues @Anonymous_ & @xmasbaby0 ,
(a) form 709 informs the IRS of the gift and updates your life time account for Gift/Estate tax purposes;
(b) transfers of more than US$ 10,000 generally will result ( as matter of course ) a SAR ( Suspicious Activity Report) and then closed . If you are transferring an amount more than US$10,000,000 ( I think ) you need US treasury permission.
(c) Please peruse the instructions for form 709 --- > 2022 Instructions for Form 709 (irs.gov)
Hopefully all these responses have answered your question to the full and you can now close this thread.
Is there more one of us can do for you ?
‎September 28, 2023
12:15 PM
519 Views