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pria25
New Member

As a married person in California, does your bank account that you acquired before marriage become community property ?

In 2018 I gifted my mom over $15k. However, My tax attorney is telling me that I don’t have to file a gift tax return form since I gifted below the annual exclusion amount of $30k. He says that if you are married in California, it counts as joint community property. 

1 Reply

As a married person in California, does your bank account that you acquired before marriage become community property ?

Here is an article with more information on the gift tax: https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

"For example, say you gave $30,000 to your child in 2018. By treating it as a split gift, you can completely shelter the gift with your $15,000 exclusion plus your spouse’s $15,000 exclusion. That way no gift tax is due, and the gift doesn't reduce the $11.180 million lifetime gift tax exemption in effect for 2018 or the estate tax exemption for you or your spouse. If you choose to make a split gift, you must file Form 709, and your spouse must consent to the arrangement."

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