(Closed) Gift Tax Question

posted 5 years ago in Legal
Post # 3
Member
12632 posts
Honey Beekeeper
  • Wedding: November 1999

I would assume it’s $26,000 per couple, since the typical threshold is $13,000 per individual.  It wouldn’t make sense to double the individual threshold solely because someone is married.  Your best bet, however, is to talk to your mortgage lender to make sure there are no specific regulations in your state that would come into play as well.

Post # 5
Member
155 posts
Blushing bee
  • Wedding: March 2014

@Cem0930:  You’re correct, a married couple can jointly give $26,000 to any one person because each individual has a $13,000 annual exclusion limit. So, if they have already given you $4,000, they may give you an additional $22,000. They can give the remainder to your DH.

It does not matter that you and your husband are going to receive more than $26,000 combined (because I believe that’s what you’re asking–right?).

I’m an accountant (although not in tax)–I remember this from school. =)

Post # 6
Member
155 posts
Blushing bee
  • Wedding: March 2014

I guess to better answer your question, they can gift EACH of you $26,000.

The topic ‘Gift Tax Question’ is closed to new replies.

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