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Good afternoon. There is no reporting requirement if the gifts fall within the $13,000 annual gift exclusion per donor per donee. So, you can give the $26,000 to your son annually without any reporting requirement. In addition to that, each person has a lifetimeexemption in excess of $5,000,000....which means a person can give a cumulative amount of up to that amount in gifts without incurring gift tax....the donor must file a gifttax return to let the IRS know how much of the lifetime exemption is being used,but there will be no gift tax until cumulative gifts have exceeded the lifetime exemption amount of $5,000,000+.
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Thanks for allowing me to be of service to you. Please beaware that the information provided here is not legal advice. Rather it issimply general information. All states have intricacies in their laws and anyinformation given is simply information only and specifically is notintended to be, nor does it constitute, legaladvice. This communication does not establish an attorney-client relationshipwith you. I hope this answer has been helpful to you.