Hello,
I had to transfer money to my parents to pay towards my ex-wife's alimony. The amount was greater than the annual exclusion for the year 2018. Do I need to file gift taxes or can I skip it since it was towards alimony?
Thanks.
Hello,
I had to transfer money to my parents to pay towards my ex-wife's alimony. The amount was greater than the annual exclusion for the year 2018. Do I need to file gift taxes or can I skip it since it was towards alimony?
Thanks.
It is NOT a gift to your parents. They are just acting as your agents to conduit the money to your ex-wife. There are NO taxes due and no gift tax return is needed.
Thanks! The only reason I was confused was because I paid it in 2018 but my divorce was complete only this year.
No problem!
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