Jump to content

UTman

New Members
  • Posts

    1
  • Joined

  • Last visited

Posts posted by UTman

  1. Any consequence of not filing a gift tax return form 709 in this scenario?

    Friend gifted me $750k cash in October 2022.   This was their first time giving gift over annual exclusion.

    Their estate will probably be under lifetime exclusion, but all will go to a 501c anyway.

    Any consequence of them not filing the information return for the $750k gift?

    I know it’s their problem and not on the one receiving the gift, but just trying to understand. 

×
×
  • Create New...