File tax return seperatly?

When a couple each gives their child $11,000 as gift , do they need file tax return seperately or still can file jointly?

You can still file jointly. The gift has no impact at all on your federal income tax return. If the $11,000 gift was made last year, however, when the per-person gift-free limit was $10,000, you might need need to report the gift on Form 709A. That would be necessary if one of you contributed more than $10,000 of the gift. If, however, joint funds were given -- or neither of you contributed more than $10,000 -- no report is needed at all. The per person limit this year is $11,000.

--kevin mccormally
editorial director
Kiplinger's Personal Finance magazine