Green card holders are subject to gift tax rules. The gift tax is capped at $18,000 for 2024 per person. This means you can give $18,000 to mom, another $18,000 to dad, another $18,000 to each child and so on. If you are married, your spouse can also give $18,000 per person to all the same people or different ones. If you give more than that, then you should file a gift tax return. The receiver just says thank you. The giver files any paperwork for giving too much.
Learn more:
Gift tax questions and answers
Gift tax return information
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