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Can gifting money to a family member benafit either the giver

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Can gifting money to a family member benafit either the giver or the resever
Welcome. THANK YOU for choosing Just Answer. My name is XXXXX XXXXX my goal is to help make YOUR life, a little...LESS taxing.

From a tax standpoint, the answer is no, gifting does not benefit the donor, because it is not tax deductible, and the gift has no tax benefit or detriment to the receiver. However, if the gift amount exceeds $13,000 in any given year, the donor is required to complete a Form 709 showing the amount of the gift. The Form 709 is an informational form.

Link to Form 709/instructions:

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