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Get your taxes done using TurboTax
Gifts less than $14,000 don't need to be reported at all, even if the person previously gave a gift over the limit.
I've never used the gift tax form but I suspect that you would only need the previous year's form since, if a running total is needed, it would be on the previous year. Of course, most tax forms should be saved for at least 7 years anyway.
I've never used the gift tax form but I suspect that you would only need the previous year's form since, if a running total is needed, it would be on the previous year. Of course, most tax forms should be saved for at least 7 years anyway.
‎June 7, 2019
3:46 PM