Gift return - gave daughter car

Technical topics regarding tax preparation.
#1
Posts:
636
Joined:
23-Apr-2014 12:01pm
Location:
san diego ca
Taxpayer and wife - community property state CA - bought leased car for $18,000, then transferred title to their daughter, giving it to her. Can't that be a gift of $9000 by each parent, and therefore avoid a gift tax return?
 

#2
JAD  
Posts:
4025
Joined:
21-Apr-2014 8:58am
Location:
California
yes
 


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