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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3793
Experience:  20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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In california, I want to make a cash gift to another person

Customer Question

In california, I want to make a cash gift to another person what are the tax law
both for California and Federal. What minimum amount is not taxable per year?
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Gifts are not reportable or taxable to the recipient (receiver) of the gift for federal and California tax purposes.

Gifts are not reportable/taxable to the donor (giver) of the gift in California. For federal tax purposes, you must REPORT a gift using Form 709 if the gift is more than $14,000 during the year. Gifts are not taxable unless you have exceeded the lifetime cap of $5.43 million.

Please let me know if you require further information or clarification.

Thank you and best regards,


Expert:  Barbara replied 1 year ago.

Just following up with you to see if you have any other questions. If so, please let me know, and I will be happy to assist you further.

Best regards,