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The general rule is that any gift is a taxable gift (IRS Publication 559, page 25). See below for exceptions.

TaxAct supports the individual tax return but does not support the gift tax return (Form 709). This is a separate return from the individual tax return (Form 1040).

The gift exclusion for 2019 has increased to $15,000.

See IRS Publication 559 Survivors, Executors, and Administrators for more information regarding the gift tax.

Nontaxable gifts

  • Gifts that are valued at less than the annual exclusion for the calendar year (excluding gifts of future interests, for which the recipient’s right to the use, possession, and enjoyment of the property and income from the property will not begin until a future date)
  • Tuition or medical expenses paid directly to a medical or educational institution
  • Gifts to a spouse
  • Gifts to a political organization
  • Gifts to charities

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