Are cash gifts less than $10,000 taxable?

Are cash gifts less than $10,000 taxable?

Clint from Baltimore MD

Answers

Read answers for this post below.

By 09/19/2006

It is allowable by law to give cash gifts of $11,000 per person without your paying taxes

By 09/07/2006

The annual exclusion is 11000 for this year, but you can find out more information below because it really depends on who it goes to and so on.....
PDF file from the IRS
http://www.irs.gov/pub/irs-pdf/p950.pdf

http://www.frugalforlife.com

Your thoughts are welcomed and appreciated. Enter your answer here!

Like ThriftyFun on Facebook

Over 80,000 tips, recipes, questions & crafts.

http://www.thriftyfun.com/tf89365508.tip.html