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Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 31490
Experience:  30 years experience in the practice of estate law.
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I am going to give a gift within the $14,000 limitation.

Customer Question

I am going to give a gift within the $14,000 limitation. Does the recipient have to include the gift as part of his income?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Loren replied 1 year ago.

Good morning. I am Loren, a licensed attorney, and I look forward to assisting you.

Expert:  Loren replied 1 year ago.

No, gifts are never reported as income by the recipient. Nor, as a general rule, is the recipient subject to any tax on the gift.

Expert:  Loren replied 1 year ago.

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