royrogerswannabe
New Member

I filed a gift tax return for 2015. Will that affect my 2016 return

My husband and I gave a house to our daughter in 2015 and filed a gift tax return from each of us individually.  Will that have any effect on my 2016 return?
bwa
Alumni
Alumni

After you file

The gift tax is separate from the income tax.  Your gift tax return will not effect your 2016 income tax return.

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