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GIFT TO NEPHEW on Gift Tax Return

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    #1

    GIFT TO NEPHEW on Gift Tax Return

    Single lady gifted her nephew $60K this is the one and only gift she has done. Is this considered Generation Skipping Transfer? And is there actually a tax since it was to her nephew?
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    #2
    Did you google what generation skipping means for purposes of the gift tax? I'll give you a hint. I have a grandson and a granddaughter.

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      #3
      There is no generation between aunt and nephew to be skipped.
      "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
      "That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe Howard      ​

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