Can we Transfer unlimited Amount to Spouse Account In US

vasu123 · Post by **vasu123** » Sat Jul 14, 2018 5:44 am

Can i transfer money from my individual usa bank account to my spouse individual usa bank account? We file taxes as married joint filing. Is this money treated as Gift if i transfer to spouse account. Any gift tax amount limit if we transfer to spouse in Usa?

Desi · Post by **Desi** » Sat Jul 14, 2018 7:05 am

vasu123;677484Can i transfer money from my individual usa bank account to my spouse individual usa bank account? [/quote] Yes.
vasu123;677484We file taxes as married joint filing. Is this money treated as Gift if i transfer to spouse account.
Yes.

vasu123;677484Any gift tax amount limit if we transfer to spouse in Usa?
No.

vasu123 · Post by **vasu123** » Sat Jul 14, 2018 7:56 pm

Thanks Desi sir.

On #2. So if it is treated as gift then we need to report (form 709) right since it is more than $14k per year? Does this reporting applicable if we gift to spouse in usa. We both are residents as per tax rules(not gc or us citizens).

Desi · Post by **Desi** » Sat Jul 14, 2018 8:10 pm

vasu123;677519Thanks Desi sir.

On #2. So if it is treated as gift then we need to report (form 709) right since it is more than $14k per year? Does this reporting applicable if we gift to spouse in usa. We both are residents as per tax rules(not gc or us citizens).

No reporting needed.

bmukherji · Post by **bmukherji** » Sun Jul 15, 2018 9:08 pm

vasu123;677519Thanks Desi sir.

On #2. So if it is treated as gift then we need to report (form 709) right since it is more than $14k per year? Does this reporting applicable if we gift to spouse in usa. We both are residents as per tax rules(not gc or us citizens).

#3 vasu123

Since you indicate that your status is not GC or USC, you need to be aware of some limits/restrictions to comply with filing requirements. I suggest you take a look at the at the following link:-
www.clarkskatoff.com/files/Non%20Citizen%20Estate%20and%20Gift%20Tax%20Chart%202017.pdf

Desi · Post by **Desi** » Sun Jul 15, 2018 9:59 pm

bmukherji;677569#3 vasu123

Since you indicate that your status is not GC or USC, you need to be aware of some limits/restrictions to comply with filing requirements. I suggest you take a look at the at the following link:-
www.clarkskatoff.com/files/Non%20Citizen%20Estate%20and%20Gift%20Tax%20Chart%202017.pdf

Bmukherji, thanks for posting that link. For some reason, I made a mistake re their status (USC /Non USC / Non USC with GC, etc

vasu123 · Post by **vasu123** » Mon Jul 16, 2018 9:05 pm

bmukherji;677569#3 vasu123

Since you indicate that your status is not GC or USC, you need to be aware of some limits/restrictions to comply with filing requirements. I suggest you take a look at the at the following link:-
www.clarkskatoff.com/files/Non%20Citizen%20Estate%20and%20Gift%20Tax%20Chart%202017.pdf

As per US Tax rules, Non-immigrant Visa people (H1B, H4, ... etc) who have been living and working from few years in US are considered as Residents as per Tax rules(Not immigration rules) so all tax rules to these people are same as to Green card holder (not USC).

So as per above link if Gift money to spouse is less than 149K/annually then no need of form 709 filling or gift tax filing right?
This is not property selling related money, just savings money(18k) and want to transfer 18k to spouse account.