Legal Question in Tax Law in New Jersey

No. Your uncle can make an unlimited number of annual gifts to an unlimited number of people; all falling within the gift-tax annual exclusion. If he is married, and his wife joins in, consenting to have him make them as a split gift, this could rise to $26,000 per recipient, under curent law. However, if the gift to you was merely a disguised way of giving your brother more than the annual exclusion, the excess could trigger a reduction in his lifetime exclusion (if still available to him) or become a taxable gift. Finally, if this is a true gift to you, you are permitted to also make gifts to your brother and there would be no possible tax consequence to your uncle. This is a reply to an Internet question and the response is for informational purposes only, and is not intended to be legal advice or as creating an attorney-client relationship.