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Retirement tax questions
No he cannot avoid the gift tax if it is given in one piece .... so if he doesn't want to file a gift tax return ( in which he probably won't own anything anyway ) then ....
Max gift per year per person is currently $14K so ... He can give you $14K per year and $14K to your spouse & $14K to each child you have. And repeat each tax year until the $125 is dispersed.
Max gift per year per person is currently $14K so ... He can give you $14K per year and $14K to your spouse & $14K to each child you have. And repeat each tax year until the $125 is dispersed.
May 31, 2019
5:46 PM