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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13343
Experience:  15years with H & R Block. Divisional leader, Instructor
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How much can you give to a relative without gift taxes

Customer Question

how much can you give to a relative without gift taxes
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello,

Each year you are allowed to gift up to $14,000 to any one (and as many individuals) without having to report the gift.

So you can give 10 people, each $14,000 and still not have to report the gifts.

If you go over that amount to any one person you have to report but still may not have to pay tax because you can use your lifetime limit ($5.43 million) and not actually pay tax.

Form 709 is used to report.

Expert:  Robin D. replied 1 year ago.

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