Dwayne T. asked
My wife and I gifted cash and jointly owned real estate totaling $105,000 to our two married friends. We prepared a 2022 Form 709 and split the gifts. Is our total exclusion $64,000? What number should we enter on page 3, Part 4, line 2 of the 2022 Form 709?
October 12th, 2024
Christina M. answered
For gift tax purposes in 2022, each person is allowed an annual exclusion of $16,000 per recipient. ...
October 12th, 2024
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