Concerning the 2022 $16,000 Gift tax annual exclusion and IRS form 709

[scocpm]

Hi, I’d like to get clarification of the $16,000 annual exclusion of the gift tax.

I am married so this is the scenario- I want to give $50,000 to my sister and her husband can I write out a check for $16,000 to my sister and a separate check to my brother-in-law for $16,000? And can my husband write out a check to my sister in a separate check for $16,000 and a separate check to my brother in law for $2,000 to equal the $50,000 and not fill out IRS form 709?

[DoninGA · Accepted solution]

Yes, you can give the gifts as you explained and not have to file a Form 709. 

Gifts given are based on individuals receiving and giving the gifts.

So you can gift up to $16,000 each to your sister and her husband and your husband can gift up to $16,000 each to your sister and her husband.

[scocpm]

Thank you much appreciated