easy · Certified Financial Planner Estate Planning
Yamamoto and his spouse gift $38,000 to their niece in 2026. They elect gift splitting on their tax returns.
What is the specific filing requirement for this transaction?
- A federal gift tax return (Form 709) must be filed to elect the split.
- No return is required since the gift is fully covered by annual exclusions.
- A return must be filed within 9 months of the gift.
- A return is only required if the gift exceeds the non-citizen spouse limit.
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