- Is this a correct assumption or am I missing anything here? Correct......no gift tax liability at this point.
- $5 mil - $200,000 = $4.8 mil remaining in my lifetime gift tax exclusion No one knows what it will revert to but you get a credit against tax and that credit will be whatever it is at the time you incur liability less whatever amount you have used in the past.
- Is there anything I need to be mindful of in the case of an in-kind transfer of index fund shares? Yes. The donee fiancee will take a basis in the shares that is the LESSER of your basis....cost.....OR the fair market value on the date of the gift. You probably don't want to gift any shares in which you have an unrealized loss.
‎August 18, 2024
4:03 PM
