Thanks for that bit information. Sort of falls in-line with my assumption, I believe. When I spoke of inheritance I was speaking in the form of inheritance tax or more so the lifetime $11+ million it seems.
I am a little confused on your statement though. "The person who gave the gift does not pay tax on the gift if it is below the lifetime amount of more than $11 million. If the gift was under $15K per grandparent in the tax year to any one individual then they do not have to complete a form 709 gift form."
If the gift from my parents was like $100,000 per parent to $200,000 in total. It's under the $11+ million but *it's not* under the $15K per grandparent. Do they need to fill out the form 709 then?
