If H&W split a $30,000 gift to one adult offspring is there any PENALTY for not filing form 709?

Question

Yes, I skimmed through the rules  and printed out the form. {I filed an extension for my 1040.}   B) Adding $15,000 back to my estate upon death is of no tax or financial consequence. Tx to the experts I follow on here.

Max Hoopla · Accepted Answer

None at all.  It's two separate gifts

Casey Y · Answer

Each person can gift $15k to any other person. So, just complete 709 and you're all set.

NA · Answer

You can't split the gift unless you file the form.

The IRS reserves the right to hit you with a penalty even if you wouldn't owe.

If H&W split a $30,000 gift to one adult offspring is there any PENALTY for not filing form 709?

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