- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My wife and I received a check for $20,000 as a gift from a family member. How do we deposit this into our bank without creating tax liability?
The check is written to her “and” I. The gift limit is $16,000 per individual tax free. Do we need to split the deposit between different accounts, or can we simply deposit to our joint account and claim it as separate gifts on tax forms?
Topics:
January 28, 2023
12:29 PM