POLITICSCNBC TOP
IRS says Trump Account contributions will not trigger annual gift tax reporting requirements
The IRS and Treasury Department announced that contributions to a Trump Account do not require filing a gift tax return. Parents, guardians, and others making such contributions are exempt from annual gift tax reporting requirements.
Related Signal
Adjacent reporting
- Keep a record of financial gifts to your loved ones to avoid inheritance tax headaches
- Can I gift a pension annuity as surplus income inheritance tax-free?
- I want to reduce inheritance tax on a £700k estate but I have no desire to make gifts: HEATHER ROGERS replies
- Affluent savers dish out cash gifts to family to reduce inheritance tax ahead of new pension rules
- I’m considering selling Bitcoin on HodlHodl for a gift card, but what prevents a buyer from providing a previously used gift card that has no remaining balance? What safeguards are in place to protect me?
- My sister, mother and I are giving my son $20,000 toward a down payment. Do we report it to the IRS?