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Get your taxes done using TurboTax
Your state laws and your Premarital agreement may make this different, but no, you should not have to pay a gift tax for one of two reasons.
1) When transferring between spouses, it is not considered a gift
2) The annual exclusion for 2022 is $16,000, then on top of that you have a lifetime exclusion of $11.7 million. So, unless you have already used most of your lifetime exclusion, then you would not need to pay taxes on this gift.
You will however, need to file form 709 since it is over the annual limit to show you are using up part of your lifetime limit. That is, IF, this does NOT count as a transfer between spouses.
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‎April 13, 2022
12:52 PM
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