ETax847 Posted February 22, 2020 Report Share Posted February 22, 2020 Doing my first gift tax return, is there anything I need to be aware of. It seems quite simple at first glance. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 22, 2020 Report Share Posted February 22, 2020 It's been awhile since I did one. But, until someone more experienced jumps on here, I'll reply. If the gift was cash or even securities with a known basis and FMV, it really is pretty straight-forward. Read the instructions, the parts that deal with your type of gift. If the gift is a house or something more complex, do tell us. Quote Link to comment Share on other sites More sharing options...
ETax847 Posted February 24, 2020 Author Report Share Posted February 24, 2020 It was just cash given to their son over the annual exemption amount. Way more straight forward than I would have thought. Thanks for the response. Quote Link to comment Share on other sites More sharing options...
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