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"allowable donation without triggering gift tax"

  • SuzyQ
    Posted: Dec 12, 2008 01:18 PM
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    Houston, TX
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    I want to give a monetary gift to my son and his family. How much can I give them without paying the dreaded "gift tax"?


  • #1
    Posted: Dec 15, 2008 10:31 AM
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    New Haven, CT
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    Hello SuzyQ,

    You can give up to $12,000 per person, and they don't even have to be relatives. A married couple can give up to $24,000 per person. I hear the amount may go up to $13,000 individual and $26,000 per couple in 2009. Does anyone know if this is true?

  • #2
    Posted: Jan 03, 2009 10:17 AM
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    Columbus, OH
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    In 2009, the amount has gone up to $13,000. This is the total of gifts given to one person during the tax year.

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