@Romper wrote:
Your response is what I initially thought but given that the enrolled agent at the well known tax prep company said to include all gifts, including those under $15,000, caused me to look for supporting documentation.
Understood and that is understandable as a general principle.
Unfortunately, although everyone makes mistakes on one occasion or another, there are quite a few people (including professionals) who maintain a position in spite of all evidence, documentation, statutes, regulations, et al, to the contrary.
There are also those who state a proposition without any support or authority whatsoever (and who cannot produce any when questioned further).
For example, with respect to gift tax returns, there was once a member of this board (years ago now) who maintained that once you filed a gift tax return (Form 709) you had to file one each and every year even if no gifts were made. A ridiculous statement with absolutely no supporting authority, yet it remained his position and was posted numerous times. I cannot help but wonder how many people out there still believe that erroneous bit of information.
