Hello, I have made 30-ish cash gifts to Recipient 1 teetering near or just above 19k for 2025. Let’s assume for this case, I’m slightly over: do I then have to individually list ALL my cash gifts to Recipient 1 on Schedule A, or can I just list the grand total as one line item? It’s going to be such a hassle to list dates, amounts, etc. for each individual cash gift. 😑
Follow up question, I’m married and do not live in a community property state. My husband is fine with gift splitting so in this situation, I would file the gift tax return, and he just signs the notice of consent w/o having to file a gift tax return on his side, correct?
Last question, if by chance I’m under the $19k mark for Recipient 1 🤞, and my husband wants to gift an additional $19k to Recipient 1, is form 709 necessary? I know you’re allowed $19k per person as a limit so if I gift $19k, and he gifts $19k (again to the same Recipient 1), can we avoid filing 709 and Schedule A altogether?
Btw, Recipient 1 doesn’t fall under the list of exclusions: political, medical expense, educational expense.
Form 709, Schedule A—many cash gifts to one 3rd party
byu/pepnme intax
Posted by pepnme
3 Comments
>Last question, if by chance I’m under the $19k mark for Recipient 1 🤞, and my husband wants to gift an additional $19k to Recipient 1, is form 709 necessary?
No, not necessary in that case.
And if you’re a bit over the $19k yourself in cash gifts, don’t even sweat this. No one is tracking and no one will care, especially since no tax would be owed except in the very remote possibility your estate were to be at or over the exemption threshold many years from now.
Kudos for being diligent, but filing 709s here would be overkill.
Although no tax consequence, gifts should be listed individually.
If you gift no more than 19K to Recipient 1, and husband gifts no more than 19K to Recipient 1, no gift tax return is needed. If checks are written on a joint account, checks should be signed by giver; ie if a check for 38K is written, you should file to elect gift splitting.
Although no tax consequence, gifts should be listed individually.
If you gift no more than 19K to Recipient 1, and husband gifts no more than 19K to Recipient 1, no gift tax return is needed. If checks are written on a joint account, checks should be signed by giver; ie if a check for 38K is written, you should file to elect gift splitting.