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I am a US citizen and live with my husband in another country. I'm considering providing a gift to him through my US bank account. I'm wondering if I will have to pay gift taxes for the transfer?


The BIDaWIZ Team's Answer:

A US citizen providing a gift to a Non-US Citizen spouse (i.e. resident alien or non-resident alien) can transfer up to an enhanced annual gift tax exclusion of $140,000 for the 2013 tax year as referenced in IRC Section 2523(i). Please note though that if you plan to transfer property such as stock, there can be a gain triggered as per IRC Section 1041(d).

The BIDaWIZ Team



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