Tax Guru – Ker$tetter Letter

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Gifting Limits

Posted by taxguru on May 27, 2007

Q:

We want to give our grandkids some money.  Is it true that we can’t give them any more than $10,000 without triggering tax problems for them?

A:

The current limit for gifts without the need to file any gift tax returns is $12,000 per donor (giver) per donee (recipient) per calendar year.

I have this explained on my website

I hope this helps.

Kerry

 

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