Gift tax

[Ljs1216]

Hi, do I need to file a gift tax form if I’m gifting, my son 84K? 

[lramkumar]

Hi 

Yes.  Anytime you gift someone more than $17000/- in 2023, you have to file a gift tax return.

Here is a link to the IRS publications that may be useful:

https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-tax...

[MirthaG]

You are required to file a gift tax return if the gift per donee is more than $17,000.  The annual exclusion changes every year.