You can give $13,000 in 2009 (the number changes most years) without having to report it or file a gift tax return. If you give more than that, you have to file a gift tax return. The excess over $13,000 is subtracted from both your lifetime gift tax allowance and from your estate tax allowance. Once your $1 million lifetime gift tax allowance is used up, you have to start paying gift taxes. Once your estate tax allowance is used up, after your death your estate will have to pay estate taxes.
Note that tuition paid directly to an educational institution or medical bills paid directly to a medical services provider on behalf of your child (or anyone else) do not count. You can pay as much of either of those as you want and it will not count against your annual or lifetime limits.
as of 2012 it is $15,000 per year.
I want to gift money to my daughter vfor a downpayment on a home, but she wants to pay it back when she gets her income tax refund can she do this?
Each state has different laws governing such transactions.
The exclusion includes ANYONE other than your spouse, meaning you can give anyone up to $15,000 each year (in 2012) without having to pay any gift taxes.
The gift tax is on the one who gives, not the one who receives it.
as of 2012 it is $15,000 per year.
I want to gift money to my daughter vfor a downpayment on a home, but she wants to pay it back when she gets her income tax refund can she do this?
Each state has different laws governing such transactions.
You should only give what you can afford without breaking the bank. You could also buy a gift and not give money at all. $30 - $50 is just fine.
Give your daughter the money by check and write on it at bottom left 'wedding gift' or give her the cash. There is no reason she would have to pay taxes on the money.
a devise is a gift of money
Difending on Daughter's age
The Locator - 2008 A Daughter's Gift - 4.5 was released on: USA: 31 March 2010
The possessive form of the singular noun 'daughter' is daughter's.example: This is a gift for my daughter's birthday.
The Gift Code Is Not Just One.... It's Used To Change Real Money For Gift Code, And Gift Code For Money Of The Game....
Any gift would be appreciated by the parents; a gift of clothes, money, religious context, all will be OK.
There is no special monetary amount a father has to give his daughter on her wedding day. If the father is fairly wealthy he can give her a sizable amount of money; a home; piece of land, but for most fathers who work hard and have moderate means financially then give what you can and don't break the bank trying to impress your daughter and your new son-in-law. Your daughter will love you no matter what monetary amount you give her and her new husband. $100 to $500 is simply fine for a middle class person to give their daughter and son-in-law for a wedding gift.