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QUESTION DETAIL
Related User
Votes
Are gifts & money given to your children considered taxable?
ANSWER
The BIDaWIZ Team's Answer:
The annual gift tax exclusion is $13K, per donor. Thus, you can give child
up to $13K, per year, without a gift tax liability. If married, your spouse can do the
same. Thus, a married couple can give each child up to $26K, per year,
without incurring a gift tax liability.
