Gifts and IRS Forms

Asked and answered many times. See in this newsgroup the thread dated

Non-community property state: NO. You must elect gift splitting.

Community property state: Uncertain. There may be a presumption that a couple giving from a joint account in a community property state splits the gift by default operation of law. However, it won't hurt if you do file the form. TR 25.2513-1 and -2 do not explicitly address community property at the federal level, but in such states, state law generally indicates a presumption of a split when the gift is community property. HOWEVER, as a gift could be (or source from) non-community property, perhaps the form should be filed nonetheless.

You are aware that the gift limit isn't $10k per donor-recipient-year combination anymore, aren't you? It's up to $14k currently (2015). The requirement to file is reached when total gifts for the YEAR are summed.

If the two checks are from different (non-community) accounts and different spouses own the accounts and sign the checks, that might also avoid the filing requirement.

Yes, as long as each of you make a gift separately, no 709 is required. But you may be able to get away with no return even if you give one check from you both.

It depends on where the money in a single check comes from. As Stussy noted, if you are in a community property state and the money comes from an account you both contribute to, it's presumed to be community property. As a result it is presumed to come half from each of you, so no 709 is required.

If you are not in a community property state, it comes down to which spouse is treated as the owner of which of the funds in a single check. As long as neither one of you is considered the owner of more than $14,000 of the gift you make jointly, no return is required.

If one of you is considered the owner of more than that, you file a return and select gift splitting. In that way you jointly qualify for the annual gift tax exemption up to $28,000.