How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen, Tax Attorney
Category: Tax
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
Type Your Tax Question Here...
Ellen is online now
A new question is answered every 9 seconds

How much can I gift tax free in 2012 per person

This answer was rated:

How much can I gift tax free in 2012 per person
Welcome to JustAnswer,

Thank you for your question. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

The 2012 annual gift tax exclusion is $13,000 per person or $26,000 for a married couple. You may read more in IRS publication 950 –

Best wishes for a Happy and Healthy New Year!
Ellen and other Tax Specialists are ready to help you
I see that you posed a question in my feedback as follows:
"Can My wife write a check for 26,000.00 and I write a check for 26,000. for my son and his wife"

Yes the $52,000 would qualify under the 2012 annual gift tax exclusion since both the donor and the recipient are married

Related Tax Questions