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Gave a gift of 14063.22. do i need to file form 709 for the $63.22?

 
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Gave a gift of 14063.22. do i need to file form 709 for the $63.22?

Yes, if you gave gifts to someone in 2017 totaling more than $14,000 (other than to your spouse), you probably must file Form 709. But see Transfers Not Subject to Gift Tax and Gifts to Your Spouse, later, for more information on specific gifts that are not taxable.

Even then, the gifting will not be taxable until the sum total of all gifts exceeds the lifetime limit of $5,490,000

See the following:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://www.irs.gov/pub/irs-pdf/i709.pdf



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