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GIFT TAX?

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K

KSK

Guest
MY WIFE & I ARE GOING TO GIVE OUR DAUGHTERS 20,000 $ WORTH OF FARMLAND EACH YEAR. WE WISH TO RETAIN THE INCOME FROM THIS LAND TILL WE BOTH ARE DECEASED. HOW CAN WE DO THIS & HAVE THESE GIFTS QUALIFY FOR THE ANNUAL EXCLUSION?

KSK
 


A

ALawyer

Senior Member
You could consider giving a life estate. But check with an accountant on valuation.

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This is intended as general information only and NOT LEGAL ADVICE. You are not my client, and I have no obligation of any kind to you. To retain a lawyer, go to http://AttorneyPages.com
 
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