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?

[tagteam]

You can only deduct contributions or gifts to qualified organizations that are religious, charitable, educational, scientific, or literary in purpose.

See https://www.irs.gov/instructions/i1040sca#idm140545383081248

Furthermore, if the gift is more than $15,000, you may be required to file a gift tax return (Form 709).

See https://www.irs.gov/instructions/i709#idm140297522569072

[SweetieJean]

You realize this post is from 3 yrs ago?

[xmasbaby0]

@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........

[SweetieJean]

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

[tagteam]

Not just "Unanswered", some of them actually do not have answers. In other words, the answers/comments to those questions on this board did not transfer to the Community - just the questions transferred.

[BobB7]

No..No deductions for such acts of love.