Can each parent give money to the same child?

Each donor has separate rules, and married couples may have additional filing choices. From a tax compliance standpoint, federal gift tax rules generally focus on the person making the gift, not the recipient. When preparing the return, a gift may require a return even when no immediate tax is due because exclusions and the lifetime transfer system must be tracked. Keep a complete file of the records used for the return position, then have a CPA, enrolled agent, or tax attorney reconcile the documents with the taxpayer, form, basis, and filing deadline.