For the past several years, I have been helping my daughter with her expenses while she started a new business in New York. My contributions were not included in any of her returns. I've tracked these payments in 'Mint', so I have a record of each transaction (i.e., credit cards, bank statements, etc.). In December of 2019, I transferred the remaining amount of her college fund from her name to mine. The amount transferred was the same as the total expenses paid to her. Can I simply call the transfer a reimbursement of expenses paid and disregard form 709 (United States Gift (and Generation-Skipping Transfer) Tax Return)? I've read where each of us has an $11M limit before gift taxes apply, but this form appears so complicated I would need a tax accountant to complete the form.
