Gift Tax Return "elections"
LacerteGift Tax Return "elections" - not sure I understand what IRC Sec.2523(f)(6) means. OR section 2632(b)(3) means. Mother gave a house to daughter (who has kids). Can anyone explain in English?
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03/29/11 4:48pm PDT
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You can try Googling those code sections, possibly with the word "election" also in your Google search, possibly with "explanation". in the search also. Maybe somewhere along the line, someone has put a plain English explanation out there.
Back up before it's too late. For a professional answer, call Tech Support at 1-800-933-9999 (Lacerte)(other numbers ProSeries, QB, or TurboTax). I am a volunteer, not compensated or supported by Intuit.
