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Bill
Bill, Enrolled Agent
Category: Tax
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Experience:  EA, CEBS - 35 years experience providing financial advice
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are husband & wife both allowed to gift $12,000 each the same

Resolved Question:

are husband & wife both allowed to gift $12,000 each the same child and have no tax consequences ?
Submitted: 8 years ago.
Category: Tax
Expert:  Bill replied 8 years ago.

Yes, both husband and wife can each gift $12,000 to the same child with no tax consequences. http://www.irs.gov/newsroom/article/0,,id=107815,00.html

 

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