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Can a minor give me a money gift without tax liabity to

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Can a minor give...

Can a minor give me a money gift without tax liabity to either of us (using the federal gift tax exception of $14,000 of course)?

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The minor’s (14 yrs old) parents will each be gifting me next year, so if I am correct that will be $28,000.

Submitted: 8 months ago.Category: Tax
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Answered in 3 minutes by:
10/5/2017
Tax Professional: Lev, Tax Advisor replied 8 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,985
Experience: Taxes, Immigration, Labor Relations
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That is correct - regardless of t age - same gift law applies.
The minor may gift to ANY person including parents.

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Tax Professional: Lev, Tax Advisor replied 8 months ago

The only issue will be that the minor may not make legal decision - and that decision of behalf of the minor should be done by a parent or a guardian...

So in your example - the parent will make a decision to use minor's money to gift himself... and that may create ethical issues and potentially legal issues if the minor will object that decision after reaching the age of majority...

But from gift tax prospective - you are absolutely correct.

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