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are gifts between spouses taxable in the state of Florida

Customer Question
? does jewerly gifts...
are gifts between spouses taxable in the state of Florida ? does jewerly gifts have to be reported to the irs? one spouse is a resident and the other is a citizen.
Submitted: 8 years ago.Category: Tax
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Answered in 9 minutes by:
9/1/2009
Tax Professional: Merlo, Accountant replied 8 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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Hello eve,

Gift taxes are governed by federal rules and do not vary by state.

Under current law, any gifts between spouses have an unlimited marital deduction, as long as both spouses are either US citizens or resident aliens. So the gifts you may give to your resident alien spouse would never be taxable, nor do they need to be reported.

There are limitations on how much a US citizen may give to a non-resident alien spouse, but those limitations to not apply if the spouse is a resident alien.

If this was helpful please press the Accept button. Positive feedback is also appreciated.

Thank you.

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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Customer reply replied 8 years ago
can i have the source of your information?
Tax Professional: Merlo, Accountant replied 8 years ago
Hello eve,

You can refer to the following IRS publication where it states that gifts to your spouse are not taxable.

http://www.irs.gov/publications/p950/ar02.html#d0e235

You can also refer to the following IRS publication which states:

"If you are a resident alien, you must follow the same tax laws as U.S. citizens."

This can be found in the second last paragraph:

http://www.irs.gov/taxtopics/tc851.html

So the two regulations combined allow you to give unlimited gifts to your resident alien spouse without any tax consequences.

If this was helpful please press the Accept button. Positive feedback is also appreciated.

Thank you eve.


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