How much money can you give to your child tax free?

+1 vote
asked May 3 in Other-Finance by dgru (410 points)
How much money can you give to your child tax free?

1 Answer

0 votes
answered May 4 by Adf289 (20,760 points)
You can give your child or any other family member up to $14,000.00 per year as a gift without being taxed on the gift.

If you give one child more than $14,000.00 in one year then you'll need to report the amount you've given your child as gift tax.

7,155 questions

7,430 answers

24 comments

159,976 users

...