Is a money transfer tax deductible?

Answer by  MelMel (74)

No, the money transfer is not tax deductible. If you were giving to an organization or charity, it could be considered deductible (but you would have to keep records of it). It is not deductible to give to your child.

Answer by  ijlalnoor (2656)

I have transferred money twice and i have not been charged for transferring the money up till now. So i think it is not deductible.