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Get your taxes done using TurboTax
No tax to pay (until you reach a ~$4M lifetime limit), but tax papers (Form 709) should be filed in most cases, by the giver, for amounts over $15,000 per year to any person . "In general. If you are a citizen or resident of the United States, you must file a gift tax return (whether or not any tax is ultimately due) in the following situations.
If you gave gifts to someone in 2018 totaling more than $15,000 (other than to your spouse), you probably must file Form 709 ..." https://www.irs.gov/forms-pubs/about-form-709
‎June 26, 2019
8:28 PM
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