My wife and I have gifted to daughter, son in law, grandson and his wife totaling more than enough to require a Gift Tax Return, Form 709 for 2021.
Several of the gifts were under the $15,000 exclusion.
Question:
When a Form 709 is required does the IRS want all gifts reported, even those under the $15,000 exclusion?
Not to bias the responses but one of the large tax prep companies has told me to include all the gifts.
Agree/Disagree
Please reference the basis for your comment.
Thanks
