D dislal DIS Veteran Joined Feb 11, 2008 Messages 1,506 Jan 18, 2011 #1 How much money can you give someone as a gift and have it be tax free? I live in PA if that makes any difference. TIA
How much money can you give someone as a gift and have it be tax free? I live in PA if that makes any difference. TIA
springandmac DIS Veteran Joined Oct 1, 2006 Messages 676 Jan 18, 2011 #2 I think its $13,000 if you're single and $26,000 if you're married and that's to each individual and applies to each gift and not the total of all gifts
I think its $13,000 if you're single and $26,000 if you're married and that's to each individual and applies to each gift and not the total of all gifts
springandmac DIS Veteran Joined Oct 1, 2006 Messages 676 Jan 18, 2011 #3 I could be wrong but I believe its a $13,000 a year
pearlieq <font color=green>They can sit & spin<br><font col Joined Aug 3, 2004 Messages 8,734 Jan 18, 2011 #4 This explains it really clearly. http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html
This explains it really clearly. http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html
D dislal DIS Veteran Joined Feb 11, 2008 Messages 1,506 Jan 18, 2011 #5 springandmac said: I could be wrong but I believe its a $13,000 a year Click to expand... pearlieq said: This explains it really clearly. http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html Click to expand... Thank you I found out what I needed to know.
springandmac said: I could be wrong but I believe its a $13,000 a year Click to expand... pearlieq said: This explains it really clearly. http://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html Click to expand... Thank you I found out what I needed to know.