You'll need to sign in or create an account to connect with an expert.
Gifts to family members are not deductible, nor are they taxable for the person who receives the gift. You can give up to $14,000 to an individual without having to report the gift on a form 709 for gift tax.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.