Can I gift money to my 2 kids for a tax break? and if I can, would my kids have to show this as income on their taxes? also, my kids are 16 and 21, do their ages matter?

[SweetieJean]

There is no tax break for gifting money to your children.

[DoninGA · Accepted solution]

Gifts given to an individual are not reported on nor deductible on a tax return.  

Gifts received from an individual are not reported on a tax return, regardless of the amount received.

If the gift given to an individual is greater than $15,000 (2018) then that gift given is to reported to the IRS on Form 709.

[tprice1965]

Thank you very much.