Hi PINKNation,
Thanks for joining the event.
No, it is not taxable.
The Unlimited marital deduction:
The IRS offers an unlimited marital deduction that allows married couples to make unlimited inter-spousal transfers of property without incurring a tax, either during their lifetimes or after their deaths. The deduction applies to both estate taxes and gift taxes.
If both spouses in a married couple are United States citizens, one spouse may make unlimited gifts to the other spouse, during life or at the time of death, using the unlimited marital deduction. The unlimited marital deduction, however, does not apply to gifts made to a non-citizen spouse
Here is a good article:
https://www.schomerlawgroup.com/tax/2023-gift-and-estate-tax-updates/#:~:text=If%20both%20spouses%20....
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.irs.gov/pub/irs-pdf/p904.pdf
