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Get your taxes done using TurboTax
If your gift to your daughter exceeds the annual exclusion of $16,000, then a gift tax return is required to be filed.
See https://www.irs.gov/instructions/i709#en_US_2021_publink16784xd0e314
However, you will have no gift tax liability unless (and until) you exceed your lifetime exemption of $12 million.
See https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
‎June 8, 2022
9:16 AM
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