Hi,
I made electronic cash transfers from my US bank account to my fathers bank account in India via Remitly and Xoom in 2020 for a total of 50K USD.
I am filing up the FORM 709, to report and get the lifetime gift tax exclusion.
In Schedule A Part 1 Column B of the form under the “Description of Gifts” is it fine to mention “Cash gift (bank transfer) to Donee’s Account” or do I need to add details of my fathers bank account etc.
Thanks in Advance!
