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DAE flip flop on where a 'gift' stops being a gift for tax stuff?
For years I shrugged off the yearly gift tax exclusion as something only rich people care about. Then last month I sat down to work out a $5,000 transfer to my sister, and figuring out whether it counts toward the $18,000 limit took me almost 3 hours of digging through IRS pages and a CPA forum. A guy on that forum pointed out the limit is per person per year, not per household, which I had totally missed. What finally made it click for you, or did you just give up and hand it to a pro?
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