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Message: <blockquote data-quote="fatcpa" data-source="post: 4073085" data-attributes="member: 11311"><p>I know the reporting requirements are causing lots of problems.  Luckily I am retired and don’t have to deal with the mess. I always believed in reporting transactions to reflect the true nature of the transaction. In this case, the true nature of the transaction doesn’t involve an income tax issue and doesn’t belong on an income tax return. It is a gift tax issue and is too small to require reporting.  I would not report the transaction on an income tax return and answer IRS questions later, if they come. This being said, I am basing my answers on my past experiences after 40 years of tax practice. I was an IRS agent for a few years, so, in practice, I never shied away from arguing with them over any tax issues. As I said, I am retired and admittedly haven’t felt the need to keep up with the reporting requirements. My reasoning is technically sound and would argue otherwise with anyone.  Feel free to ignore my comments and play Uncle Sammy’s game.</p></blockquote><p></p>