Why is it that Turbo tax does not allow me to process $$$ gifts to the child? Instead, it sends me to a complex IRS form
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TT is an INCOME tax program. It does not support gift taxes.
Gifts are not reported in a tax return.
Gifts over $15,000 need to be reported on a separate 709 form.
https://www.irs.gov/pub/irs-pdf/i709.pdf
https://www.irs.gov/pub/irs-pdf/f709.pdf
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