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How much money can I give as a gift to my daughter tax-free?

I want to give my daughter some money to help her out but don't want to pay taxes on it.

asked by Lizzie44 (22)

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Tags:  family  gift  legal  money

answers

The limit to give as a gift with out having to file the tax forms are $12000. However if you are married your spouse can also give $12000 making you tax free gift total $24000.

12 votes

you can give $13,000 in 2009 without claiming it on a tax return. Neither one of you claim it...

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posted by Anonymous  
6 votes

The United States Government allows you to give to any person, ten thousands dollars tax free. Any more than ten thousand dollars will be gift taxed, which is a much higher tax than regular federal or state taxes.

6 votes

Currently you can give immediate family (i. e mother, father, son, daughter) up to $12,000 dollars tax free. Neither you nor they will need to pay taxes on it. this money does not need to be given all at once. You have one calendar year to give the money up to the maximum amount.

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posted by becki (224)
5 votes

In 2009 the amount that you can give to a person tax free is $13000 - this is assuming that your daughter is an adult. Money given to minor children or grandchildren must be handled by an adult.

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posted by diane41 (175)
5 votes

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