I'm unclear what you mean about "You're thinking about the wrong return" though, because all I said was my parents return. Isn't that where they would have to claim gifts?Sorry, I assumed you were talking about their 1040. It's that time of year.It looks like form 709 is PER person in the marriage, not JOINT. So I would divide everything by two (my mother and father), and there would be two donee's (me and my wife). So the GRAND TOTAL divided by four is well below the $13K limit. Thus I don't need to file this form at all.Try reading the instructions for the 709. There's a big section on gift splitting.PhilRule Your Retirement Home Fool
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra