hard · Certified Financial Planner Retirement
The Hartwell household consists of a married couple who gifted $30,000 to their daughter in 2026. They elect to split the gift.
Which statement is true?
- Gift splitting is only available for gifts of community property.
- No return is required because the gift is below the $38,000 combined exclusion.
- The taxable gift is $11,000.
- They must file a gift tax return (Form 709) to make the election.
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