M-MTax
Level 15

Get your taxes done using TurboTax

If your gift exceeds the yearly limit ($17,000 per individual)  imposed by the gift tax rules, then you will need to complete a Form 709 gift tax form

 

You should update your file. The $17,000 annual exclusion applies to gifts made in 2023. 

 

The amount rose to $18,000 in 2024 and will rise to $19,000 in 2025.