Gift tax vs Estate 'gift' tax - Page 2 -

Posted byMessage
Bear Is Dead
Member since Nov 2007
3509 posts

re: Gift tax vs Estate 'gift' tax

GST tax sucks, but I believe there is a lifetime exemption for that as well. Thought it was over a million. Could be wrong. That type of gift would lower both the GST exemption as well as the lifetime. They are not two separate exemptions, just two different limits

Back to top
Fat Man
Covington, Atlanta, Winston-Salem
Member since Jan 2006
6399 posts

re: Gift tax vs Estate 'gift' tax


GST for short. Transfers from grandparents to grandchildren have their own complications.

So, if parents gift directly to their children, this is avoided?

So, parents can gift up to $5,250,000 (one time) to children with no tax burden on the recipient. Recipient reports gift on 709?*

Uncle can go back on Estate for Long Term Care costs if transfer is less than 3? or 5? years prior.


Back to top
Team Primo
Member since Jun 2011
7308 posts

re: Gift tax vs Estate 'gift' tax

LTC reach back is 5 years
Estate tax reach back is 3 years

These are as I know them, but you may want to verify with poodlebrain or another CPA. Good luck.

Back to top

Back to top