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Old 08-18-2015, 02:27 PM
AceMan AceMan is offline
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Here are few scenarios from turbotax. If your remittance is more than $14,000 example 3 might be appropriate for you.

Example 1

In 2014, you give your son $15,000 to help him afford the down payment on his first house. This is a gift, not a loan. You must file a gift tax return and report that you used $1,000 ($15,000 minus the $14,000 annual exclusion) of your $5.34 million lifetime exemption.

Example 2

Same facts as above, except that you give your son $13,000 and your daughter-in-law $2,000 to help with the down payment on a house. Both gifts qualify for the annual exclusion. You do not need to file a gift tax return.

Example 3

Same facts in Example 1, but your spouse agrees to "split" the gift—basically this means he or she agrees to let you use part of his or her exclusion for the year. One spouse, for example, could give $28,000 to his son without triggering the gift tax if the other spouse agrees not to give the son any gift that year. Although no tax is due in this situation, the first spouse would be required to file a gift tax return indicating that the second spouse had agreed to split the gift.
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