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I gift via check to child on Dec 30, 2013. They don't cash it until Jan 5, 2014. What year does this gift technically fall under?
I believe when it is no longer in your control is when it counts.
So if you write the check on Dec. 30th, and don't hand it (or mail it) to your kid until Jan 4, it's really a January gift.


Rignt concept. Bad interpretation. Both situations above are 2014 gifts. A gift is completed when the gifter can no longer affect the gift. This is dependent on state law but usually means after the check has cleared. See http://www.thefreelibrary.com/Gift+was+completed+when+check+... for one case that went to Tax Court.

Ira
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