What educational institutions qualify for the tuition gift tax exclusion?

According to the Internal Revenue Code, an educational organization is an institution that “normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on.” This includes all primary schools, secondary schools, preparatory schools, high schools, colleges and universities. However, some pre-schools do not qualify for the exclusion because the schools do not satisfy the Internal Revenue Code’s standards.

Attorney Fred Jacobs is Florida Board Certified in Tax Law.  Call Bach & Jacobs at (941) 906-1231 to schedule an appointment with Fred if you have questions about how the gift and estate tax laws affect you and your family.