Get your taxes done using TurboTax
The reason TurboTax has you split the gift with your spouse is because otherwise, Each spouse must file a separate return if he or she makes any taxable gifts. You can, however, choose to “split” gifts with your spouse. Making a split gift allows you to take advantage of your annual gift tax exclusion plus your spouse's exclusion for a gift that is made entirely by you.
Here is a TurboTax article about gift splitting.
The instructions for form 709 state as follows with regards to spouses and gifts: (See line #8, as it corresponds to Form 709, Page 3, Part 4, Line 1.)
-
Determine whether you are required to file Form 709.
-
Determine what gifts you must report.
-
Decide whether you and your spouse, if any, will elect to split gifts for the year.
-
Complete lines 1 through 19 of Part 1—General Information.
-
List each gift on Part 1, 2, or 3 of Schedule A, as appropriate.
-
Complete Schedules B, C, and D, as applicable.
-
If the gift was listed on Part 2 or 3 of Schedule A, complete the necessary portions of Schedule D.
-
Complete Schedule A, Part 4.
-
Complete Part 2—Tax Computation.
-
Sign and date the return.
.
Make sure to complete page 1 and the applicable schedules in their entirety. Returns filed without entries in each field will not be processed..
.
Remember, if you are splitting gifts, your spouse must sign line 18 in Part 1—General Information..
