Houzz Logo Print
breenthumb

Q's on Annual Gifting--timing and source

17 years ago

Need to Gift for this year and with so few days left on the calendar need to know a few things to make sure its done right and in time. I've never done this before and this just came up.

I know DH and I can each gift so each recipient will get a total of $24,000, $12,000 from each of us but...

1. Must the check be cashed/deposited before 12/31/08?

2. Does it matter which specific savings or checking account(s) it comes from as long as there are sufficient funds to cover them? In other words, a newly opened acct. has my name only so far on it. Can I still send the entire amount--his and mine, from that account?

3. Can our amounts be combined into the same check per recipient?

Any help would be appreciated.

Comments (5)

Sponsored
Bella Casa LLC
Average rating: 5 out of 5 stars17 Reviews
The Leading Interior Design Studio in Franklin County