Question

Giving gift to married couple 2020 - limit

Forum|Forum|5 years ago
September 27, 2020
1 reply
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Hello,

I think I don't have to file a gift tax Form 709 for this situation, but would still like make sure. I am single and giving a gift to a married couple. Scenario is - total gift value = $27,000,

1. Gift to husband in his name = $13,500 (but wired $ to couple's joint account - still using his name as recipient)

2. Gift to wife in her name = $13,500 (wired $ to wife's separate bank account)

I just need to make sure I am within the $15k limit/per person for 2020. The reason I ask is since the 1st gift to husband was sent to a joint account, it could be used as a reason that I could exceed the $15k yearly limit for the wife.

Thanks a lot for the answers.

Regards,

W

macuser_22

Employee

You are correct. The more then $15,000 requirement for a 709 is for *each* person you make a gift to. The fact that they are married is irrelevant.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**