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If I gifted $5,000.00 to my son to purchase a house is that tax deductible.
bomb_digiti
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If I gifted $5,000.00 to my son to purchase a house is that tax deductible.
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TurboTax Free Edition Online
May 31, 2019
11:00 PM
jerry2000
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Deductions & credits
No, that is not deductible. A gift to an individual is not deductible.
May 31, 2019
11:00 PM
RichardG
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Deductions & credits
No, there is no income tax deductions for gifts made to a private individual.
May 31, 2019
11:00 PM
