Anonymous
Not applicable

Get your taxes done using TurboTax

Is there any reason one could not do a direct transfer of funds to the recipient?  i.e.  a couple gifting a child $30,000 and do one transfer from their bank to the child's bank account

 

also do you have to file anything with IRS for gifts over $10,000 still?  There was a form on IRS website stating this but not clear if this was before they raised the annual gift exclusion limit.