I send money as gifts to support my parents abroad and are not US citizens,( &gt; $14000 per parent). does it reduce my taxable income? Should I file any additional form?

I send money as gifts to support my parents abroad and are not US citizens,( > $14000 per parent). does it reduce my taxable income? Should I file any additional form?

posted

Sorry but money you sent to your parents is not deductible. If you sent $14000 per parent you are not even required to file a gift tax form 709.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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I send money as gifts to support my parents abroad and are not US citizens,( > $14000 per parent). does it reduce my taxable income? Should I file any additional form?

I send money as gifts to support my parents abroad and are not US citizens,( > $14000 per parent). does it reduce my taxable income? Should I file any additional form?

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I send money as gifts to support my parents abroad and are not US citizens,( &gt; $14000 per parent). does it reduce my taxable income? Should I file any additional form?