I maintain medical insurance for my 24-year-old child, but I otherwise do not pay his expenses. Will I be taxed for the value of his insurance premium?

I do not pay more than 50% of his expenses. I do not have agreement with his mother as to who can claim his as dependent

posted

You will not be taxed for the value of your son's insurance premiums. Medical payments you make are excluded from the gift tax.

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Do you have an Intuit account?