About this episode
This Tuesday Triage episode breaks down how gift tax actually works, when a gift must be reported to the IRS, and why most people won’t owe gift tax but may need to file a gift tax return anyway. Using a real listener scenario, Jill explains what counts as a gift, what doesn’t, four major exceptions, and common year-end mistakes that can accidentally trigger IRS reporting rules. And, as always, she reminds us that not all gifts come wrapped. Sometimes the most meaningful gift is showing up.What You’ll Learn in This EpisodeWhat legally qualifies as a gift and why “taxable gift” does not automatically mean tax owed The difference between gift tax (during life) and estate tax (after death) and how they are unified Why most Americans will never owe gift tax due to the multi-million-dollar federal gift and estate tax exemption (~$14M per person in 2025) Which state still has a separate gift tax (and why it generally aligns with federal rules) Four major no-tax and no-reporting exceptions, including: charitable gifts to qualified 501(c)(3) organizations (not GoFundMe), annual exclusion gifts up to $19,000 per person in 2025, direct payments of tuition and medical expenses, and unlimited gifts to a U.S.-citizen spouse How gift splitting works for married couples and why it requires filing a gift tax return even if no tax is owed Why postmarks matter more than check dates (the mailbox rule) The Medicaid look-back risk and why gifting can hurt Medicaid long-term care eligibility Resources & Links:Join the waitlist for The Death Readiness Playbook: https://www.deathreadiness.com/playbookEpisode 20 — What You Need to Know About Medicaid and Protecting Your Mom’s HouseSubmit a question for Tuesday TriageConnect with Jill:Website: DeathReadiness.comEmail: jill@deathreadiness.comLearn more about Jill’s servicesSubscribe to the Death Readiness Dispatch!Submit a question for Tuesday TriageDid you enjoy this episode? Share it with someone you care about.
This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts),
