If I gifted $5,000.00 to my son to purchase a house is that tax deductible.

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If I gifted $5,000.00 to my son to purchase a house is that tax deductible.

No, that is not deductible. A gift to an individual is not deductible.

If I gifted $5,000.00 to my son to purchase a house is that tax deductible.

No, there is no income tax deductions for gifts made to a private individual.

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