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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121477  
Subject: Re: gift tax Date: 4/6/2011 9:32 AM
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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.

Phil
Rule Your Retirement Home Fool
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