Will You Have to File a Gift Tax Return for a Trump Account Contribution
There appears to be no special exception for Trump Account Contributions
We had a reader reach out to us regarding whether you have to file a gift tax return when making a Trump Account contribution.
The One Big Beautiful Bill Act authorizes the creation of a Trump Account for children under age 18. These accounts can be created and funded starting July 4, 2026.
Parents and grandparents are able to put in up to $5,000 per child (indexed to inflation after 2027).
All taxpayers are eligible to gift up to $19,000 (indexed) to as many donees as you would like each year and as long as you are under this amount, no gift tax return is required, and it will not reduce your lifetime exemption amount ($15 million starting January 1, 2026).
