Two unmarried people living together & GIFT TAX!? While the tax code is crystal clear about spouses giving each other gifts in excess of $14,000 anyone else needs to WATCH OUT! First let’s define a gift according to the IRS in a very simple summary: a gift is any transfer to an individual where something is given and nothing is received in return. Are you thinking about this yet? Home costs, food, entertainment, vehicle use, vacation, ____… (Hopefully you noticed that I didn’t include medical or tuition as those are not “gifts” per the IRS.) Do you think those living expenses added together are >$14,000 over 365 days? If so, time to consider a Gift Tax return and give me a call!