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Level 1

Question

Can both myself and my wife each recieve a gift of 15000$ in 2019 with out my sister (who is the gifter) needing to report the gift on a form 709?

Forum|Forum|7 years ago
June 3, 2019
4 replies
0 views

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TurboTax Deluxe Online

Level 15

Note: your sister should write separate checks (a check for $15k to you and another check for $15k to your wife).

Level 15

Yes, a gift of $15,000 or less per year to each recipient does not have to be reported on Form 709.

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Level 15

Yes, $15,000 is the annual exclusion so your sister can give you and your wife that amount this year.

Level 11

It's covered in its simplicity at https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N