https://ttlc.intuit.com/community/taxes/discussion/i-sent-my-son-1900-last-year-can-he-claim-that-as-income-because-he-didn-t-work-he-and-my-other-son/01/571954#M232954 Wed, 05 Jun 2019 21:27:48 GMT dspatton50 2019-06-05T21:27:48Z https://ttlc.intuit.com/community/taxes/discussion/i-sent-my-son-1900-last-year-can-he-claim-that-as-income-because-he-didn-t-work-he-and-my-other-son/01/571954#M232954 Wed, 05 Jun 2019 21:27:48 GMT https://ttlc.intuit.com/community/taxes/discussion/i-sent-my-son-1900-last-year-can-he-claim-that-as-income-because-he-didn-t-work-he-and-my-other-son/01/571954#M232954 dspatton50 2019-06-05T21:27:48Z https://ttlc.intuit.com/community/taxes/discussion/no-he-does-not-have-to-claim-it-as-income-you-are-allow/01/571960#M232956 <P><B>No</B> he does not have to claim it as income.&nbsp; You are allowed to give $14,000 as gift each year to your child without them paying taxes on it.&nbsp; Please see excerpt below, taken from IRS <A href="https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes#3" rel="nofollow" target="_blank"><B>Frequently asked Questions on gift tax</B></A><B>.</B>&nbsp; You can also select the link to learn more about Gift Taxes and the IRS.<BR /></P><B> <I>How many annual exclusions are available?</I> </B><I> </I><P> <I>The annual exclusion applies to gifts to each donee. In other words, if you give each of your children $11,000 in 2002-2005, $12,000 in 2006-2008, $13,000 in 2009-2012 and $14,000 on or after January 1, 2013, the annual exclusion applies to each gift. The annual exclusion for 2014, 2015, 2016 and 2017 is $14,000.</I> </P><BR /><BR /> Wed, 05 Jun 2019 21:27:50 GMT https://ttlc.intuit.com/community/taxes/discussion/no-he-does-not-have-to-claim-it-as-income-you-are-allow/01/571960#M232956 Melaine 2019-06-05T21:27:50Z