What is a Gift splitting election?
A gift splitting election is an option available to married couples that treats any gift from one spouse as if made half by each spouse, effectively doubling the available annual gift tax exclusion to $38,000 per recipient for 2026 without dipping into either spouse's lifetime exemption. Both spouses must consent to the election by signing Form 709, and the election applies to all gifts made during the calendar year. Gift splitting lets Individuals hold gifting assets while maximizing household exclusions, often paired with Child traditional IRA funding.
Easily save clients thousands in taxes.
Scan client returns.
Uncover savings.
Export a professional tax plan.
.png){kind=small}