Here's another filing deadline that might apply to you:
April 15 is the due date for filing 2013 gift tax returns. If you made gifts
last year in excess of the $14,000 annual limit to any one individual, you may
need to report the transaction to the IRS. If you and your spouse agree to "gift-splitting,"
you could give up to $28,000 to any one individual with no gift tax liability.
However, gift-splitting requires that each of you file a gift tax return.Tuesday, April 1, 2014
Making gifts may require a tax filing
Here's another filing deadline that might apply to you:
April 15 is the due date for filing 2013 gift tax returns. If you made gifts
last year in excess of the $14,000 annual limit to any one individual, you may
need to report the transaction to the IRS. If you and your spouse agree to "gift-splitting,"
you could give up to $28,000 to any one individual with no gift tax liability.
However, gift-splitting requires that each of you file a gift tax return.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment