Ok. I do have a new tax professional to do my taxes and now she is supposed to do two Form 709 (Gift tax) so the government can follow us for the rest of our lives and make sure we don't be too generous to a certain adult child of ours. I got too involved with other pressing things and had no idea how much we went over for the "exclusion" we are allowed as a married couple. Now I am forced to stay married at least until we see this through!.
What I would like to know is why does the IRS consider the utilities we paid monthly to the company for her as a "gift"? They seemed not too high until I added them up for 12 months and they went into thousands of dollars!! But how can that be a "gift" ? My new tax lady wants copies of the entire year's bank statements to show we paid them. I am exhausted with all the work I have been doing just because we were a bit overly generous with our own child! Some terrible things happened to her this year and she really needed our help. If you can't depend upon your parents at these times, what good are we?? If you have info you can share that my tax lady is wrong, please share. I am going gaga looking up a year's worth of bank statements. Thanks so much!