Can a check received as a gift in December 2020 but not deposited until January 2021 be considered a 2020 tax year gift for exclusion purposes?

[jts5]

I received a holiday gift in the form of a check from my parents. Due to a technical issue with my bank, the deposit was not accepted prior to 12/31/20. The check was deposited in January 2021. Can my parents still count the gift towards their 2020 gift tax exclusion. We do not want to miss out on a year of exclusion benefit. Thank you.

[Anonymous_ · Accepted solution]

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@jts5 wrote:
Can my parents still count the gift towards their 2020 gift tax exclusion.

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Yes, under the principle of constructive receipt.