@rjs wrote:If the check from the joint account exceeds the annual gift tax exclusion for one person, Form 709 is required.
If the gift from the joint account exceeds the combined annual exclusion for BOTH joint account holders, then Form 709 is required.
A lot of the time, parents with joint accounts are not even writing checks. Instead, they're transferring the gifted funds from their JTWROS account to their kid's account via ACH.
