When the Consenting Spouse Must Also File a Gift Tax Return
In general, if you and your spouse elect gift splitting, then both spouses must file their own individual gift tax return.
However, only one spouse must file a return if the requirements of either of the exceptions below are met. In these exceptions, gifts means transfers (or parts of transfers) that do not qualify for the political organization, educational, or medical exclusions.
Exception 1.
During the calendar year:
Only one spouse made any gifts,
The total value of these gifts to each third-party donee does not exceed $34,000, and
All of the gifts were of present interests.
