When does a gift occur?

Does a gift take place in the year the check is written, when the check is given to the recipient, or when the recipient deposits the check?

The first two look like they will be in 2016, but the last will probably be 2017. The gift is intended to be for 2016.

I expect the IRS is too busy to track things such details, but I like to do things properly regardless. Thanks

Reply to
Frustrated
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A gift is generally considered complete in the year that a check is given to the donee.

However it's a bit more complicated than that. Because if you give someone a check on a Friday after business hours and January first comes on Sunday, the donee may not have a reasonable chance to deposit the check in that same year. So the gift may be considered to have occured in the following year.

Of course, with technology allowing people to make deposits into an ATM at any time of the day or night, any day of the week, and other technology allowing people to deposit checks by taking a photo of the check with their smart phone, that approach may change.

Reply to
Stuart O. Bronstein

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