https://ttlc.intuit.com/community/taxes/discussion/gift-to-children/01/2791830#M1029900 <P>I have given close to 9000 dollars to my child as a gift. Will this reduce my taxable income?</P> Tue, 10 Mar 2026 06:55:58 GMT swhamid 2026-03-10T06:55:58Z https://ttlc.intuit.com/community/taxes/discussion/gift-to-children/01/2791830#M1029900 <P>I have given close to 9000 dollars to my child as a gift. Will this reduce my taxable income?</P> Tue, 10 Mar 2026 06:55:58 GMT https://ttlc.intuit.com/community/taxes/discussion/gift-to-children/01/2791830#M1029900 swhamid 2026-03-10T06:55:58Z https://ttlc.intuit.com/community/taxes/discussion/re-gift-to-children/01/2791871#M1029901 <P>Sorry to say but this type of gift will not directly reduce federal income tax. However, if the funds were used for education then an education credit on your individual return might be worth exploring.</P> Wed, 16 Nov 2022 19:05:20 GMT https://ttlc.intuit.com/community/taxes/discussion/re-gift-to-children/01/2791871#M1029901 R-SchuleCPA 2022-11-16T19:05:20Z https://ttlc.intuit.com/community/taxes/discussion/re-gift-to-children/01/2792215#M1029902 <P>Although this amount was gifted for educational expense, I am not sure if the education expense deduction will be applicable in my case.&nbsp;</P><P>&nbsp;</P><P>What is the the taxable income limit for taking education expense as deduction?</P> Wed, 16 Nov 2022 19:59:22 GMT https://ttlc.intuit.com/community/taxes/discussion/re-gift-to-children/01/2792215#M1029902 swhamid 2022-11-16T19:59:22Z