VAer
Level 4

Get your taxes done using TurboTax

Why not subtract from lifetime exclusion? It does not make sense, for example, if I give $6000 to each of 1000 persons in 2016, the total given away amount is 6 millions. It still meets all the three requirements, and I don't need to file form 709. And I still have 5.45 million exclusion left???