Hi,

I sent my parents (father's account) around 50K in 2011. I am trying to file the gift tax return and I have filed for an extension. I am currently on H1B. I was thinking that I don't owe any tax as this is well below the lifetime exemption. But, I am little confused now as I am not sure if I qualify as a resident for gitt tax purposes. For income tax purposes I am a resident alien. Does the same apply to gift tax? The instructions on 709 form are confusing. Can someone please explain what I should fill on line 7 for citizenship? This is all after tax money I have sent. I don't want to be taxed again. Please help.

Thanks,
Shiva.

Your residency status for income tax purposes also applies to the Gift Tax. Put "U.S. resident" on Line #7 of the Form 706.

OR you can hire me to prepare the return; email me at the email address in my profile if you are interested (if you cannot see the address below).

Dear AtlantaTaxExpert,

Thanks. I have sent you an email.

Quote:

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Originally Posted by AtlantaTaxExpert

Your residency status for income tax purposes also applies to the Gift Tax. Put "U.S. resident" on Line #7 of the Form 706.

OR you can hire me to prepare the return; email me at the email address in my profile if you are interested (if you cannot see the address below).

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I have received and answered the email.

"Your residency status for income tax purposes also applies to the Gift Tax." Untrue.

IntlTax:

So it is your position that the OP does NOT have to file a gift tax return?