Annual Gift tax exclusion


K

kastnna

If a single grantor wishes to make his maximum annual gift to a trust
that has two beneficiaries what is the maximum he can currently gift?

Is it $12,000 (1 entity/Trust) or $24,000 ($12k x 2 beneficiaries)?

I know this is a tax question, but mod.taxes is very slow to post.
 
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S

scott

If a single grantor wishes to make his maximum annual gift to a trust
that has two beneficiaries what is the maximum he can currently gift?

Is it $12,000 (1 entity/Trust) or $24,000 ($12k x 2 beneficiaries)?

I know this is a tax question, but mod.taxes is very slow to post.
I looked this up, and it appears that he will not be able to use the
annual exclusion at all and make a gift to this trust, as this trust
has more than one beneficiary. At least that's what I found. If its
HEET trust, and there is a majority split, perhaps, but it sounds like
what you have is 50/50.

http://www.rothgerber.com/newslettersarticles/roth27.asp

Hope that helps.

Scott P.
MetLife
 

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