no, it isnt

Any gift below 3k is free of tax in its entirety. Anything over 3k is a potentially exempt gift, and if the donor lives for 7 years it is fully exempt from tax.

You don't need to disclose exempt or potentially exempt gifts unless the donor dies within the 7 years.

This does, of course, assume that the sum in question is a plain and simple gift, and that it is one without a reservation of any kind.

Posted By: CWC, Oct 9, 19:59:59