Moceri Minute

Did you gift more than $15,000 to an individual in 2019? 

If so, you may be required to file a Gift Tax Return. Gifts to anyone other than your spouse that exceed the annual limit will reduce the estate exclusion rather than being taxed currently. Your spouse can also gift $15,000 to the same person without filling a Gift Tax Return. 
Let our offices know if you made such a gift in 2019 so we can prepare the necessary Gift Tax Return.