As I have read it, gifts from a U.S. citizen (resident or non-resident) to a non-resident alien spouse are subject to the gift tax, with a $134,000 (2010) annual exclusion.
Are there any gift taxes in the reverse (gifts from nonresident alien spouse to U.S. citizen spouse)?
I presume simply using a joint bank account will not trigger any "gifts", only the transfer of titled property (real estate, stocks & securities, etc)?
If your non-resident alien spouse makes the election to be treated as a resident for tax purposes, and then you file Married Filing Jointly, do you then get unlimited spousal gifts ("unlimited marital deduction") as if your spouse were a U.S. citizen?
If so, and you do such a gift; and in a later tax year file a revocation, ending the choice to treat nonresident alien spouse as a resident, is there any tax consequence regarding the earlier gift?
Are there any gift taxes in the reverse (gifts from nonresident alien spouse to U.S. citizen spouse)?
I presume simply using a joint bank account will not trigger any "gifts", only the transfer of titled property (real estate, stocks & securities, etc)?
If your non-resident alien spouse makes the election to be treated as a resident for tax purposes, and then you file Married Filing Jointly, do you then get unlimited spousal gifts ("unlimited marital deduction") as if your spouse were a U.S. citizen?
If so, and you do such a gift; and in a later tax year file a revocation, ending the choice to treat nonresident alien spouse as a resident, is there any tax consequence regarding the earlier gift?