what qualifies as a gift 
most items such as cash real estate and assets qualify as a gift the only items that don t qualify as a gift are those that are used for educational or medical purposes as well as gifts made to political organizations 85the bottom linetaxpayers are allowed to give other individuals a gift of money or assets as long without incurring any taxes as long as the value of that gift doesn t exceed a certain amount couples can split gifts and avoid paying any gift taxes too if you re a married couple and decide to split the gift make sure you file form 709 which is the gift tax return 73correction may 8 2023 this article has been corrected to indicate that couples must file form 709 if they decide to use the gift splitting option 