If I give my child a gift of money to purchase a car or home improvements is this something I can deduct off of my taxes?

tdld2015 · ‎May 31, 2019

Anonymous_ · ‎May 31, 2019

SweetieJean · ‎June 7, 2019

You realize this post is from 3 yrs ago?

xmasbaby0 · ‎June 7, 2019

@SweetieJean This confusion is occurring because they are 'syncing" the current Answer Xchange with the new "community" forum and it is putting old posts in both places. In the new forum they are appearing with dates that make them appear to be new questions. Sigh........

**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.**

SweetieJean · ‎June 7, 2019

Right...and I understand that the new forum lists them as unanswered.

Anonymous_ · ‎June 7, 2019

BobB7 · ‎June 7, 2019

No..No deductions for such acts of love.

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If I give my child a gift of money to purchase a car or home improvements is this something I can deduct off of my taxes?