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kgd
New Member

Is money to help support your parents in a foreign country qualify under the $14000 tax-free gift exemption?

I support my parents and each year transfer money outside the US. They are Non - US residents/ Citizens. The money is used to help support their medical bills & other maintainance. 

can this qualify under the $14000 tax-free gift exemption?

1 Reply
MinhT
Expert Alumni

Is money to help support your parents in a foreign country qualify under the $14000 tax-free gift exemption?

The amounts sent to your parents outside the U.S. are considered as gifts.

These amounts qualify for the gift exemption of $14,000 a year per recipient and per donor.

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