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Tax.appeal.168, Tax Accountant
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Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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I gave my brother and sister a gift of $10,000 each. Since

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I gave my brother and sister a gift of $10,000 each. Since these gifts are below the annual exclusion amount is it acceptable to not fill out form 709 in my tax return? It is my understanding I only have to fill out the gift tax form if my gifts exceed the annual exclusion amount. Is this a correct belief?
Submitted: 5 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 5 years ago.
Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

Happy New Year!!

Thanks for requesting me personally. You are correct, since the gift amounts were less than than the $13,000, you DO NOT have to complete a Form 709.

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