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Are cash gifts less than $10,000 taxable?

Are cash gifts less than $10,000 taxable?

Clint from Baltimore, MD

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September 7, 20060 found this helpful

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
www.irs.gov/.../p950.pdf

http://www.frugalforlife.com

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September 19, 20060 found this helpful

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

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