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lexxitippytoes
New Member

Can you claim money "a gift" if it was used to pay off credit cards.....If you were the person giving the gift, can you deduct it on your taxes?

money was given as a gift , to pay of credit cards, can this be used as an itemized deduction?
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bwa
Alumni
Alumni

Can you claim money "a gift" if it was used to pay off credit cards.....If you were the person giving the gift, can you deduct it on your taxes?

If you were the person giving the gift, can you deduct it on your taxes?

Gifts to individuals such as your family or others are not deductible. Only gifts to recognized charitable organizations or Governments such as the Red Cross or Salvation Army are deductible.



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bwa
Alumni
Alumni

Can you claim money "a gift" if it was used to pay off credit cards.....If you were the person giving the gift, can you deduct it on your taxes?

If you were the person giving the gift, can you deduct it on your taxes?

Gifts to individuals such as your family or others are not deductible. Only gifts to recognized charitable organizations or Governments such as the Red Cross or Salvation Army are deductible.



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