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Get your taxes done using TurboTax
Thanks again, MargaretL. Back to my “Transfer” case, as you point out the annual exclusion is 15k, after mutual transfer, my “net” gift amount is 5k, it actually below annual exclusion threshold, it means I do NOT REQUIRE to file Form 709 (if I remember correctly) and REPORT such transactions into my Tax Return ? But I should prepare to prove to IRS (if needed) ?
Regards
Regards
January 15, 2019
9:00 AM