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New Member
posted May 31, 2019 9:18:21 PM

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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1 Best answer
Alumni
May 31, 2019 9:18:22 PM

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.



1 Replies
Alumni
May 31, 2019 9:18:22 PM

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.