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HOW MUCH (IF ANY) OCCASIONAL FINANCIAL($) ASSISTANCE CAN BE PROVIDED TO A FAMILY MEMBER TO HELP WITH SPECIFIC LIVING EXPENSES WITHOUT HAVING TO "REPORT" THE AID.

Submitted: 379 days and 20 hours ago.

Category: Tax

Value: $15

Status: CLOSED

Accepted Answer

Hello and thank you for using Just Answer. You can give a person a gift up to $12,000 ($13,000 for 2009) before a gift tax return is due. If you are married the gift can be up to $24,000 before a gift tax is due.

Accepts:
Expert:	Marvin,EA
Pos. Feedback:	98.5 %
Answered:	11/8/2008

Enrolled Agent

10 years self employed , Income Tax Preparation & Representation

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HOW MUCH (IF ANY) OCCASIONAL FINANCIAL($) ASSISTANCE CAN BE PROVIDED TO A FAMILY MEMBER TO HELP WITH SPECIFIC LIVING EXPENSES WITHOUT HAVING TO "REPORT" THE AID.

Accepted Answer

Hello and thank you for using Just Answer. You can give a person a gift up to $12,000 ($13,000 for 2009) before a gift tax return is due. If you are married the gift can be up to $24,000 before a gift tax is due.

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