I gifted $15K( limit for married is $30K) to ILIT. Where do I file in Turbotax Premium?

posted

Connect with an expert

1 Reply

I gifted $15K( limit for married is $30K) to ILIT. Where do I file in Turbotax Premium?

You do not have to report your gift of $15,000 on your tax return. If you had to report a gift exceeding the yearly limit you would use Form 709

Still have questions?