Can I deduct gifts (money) that I have paid to my children? if so how much?
Posted October 27th, 2008vedahardy1 asked: How much can I claim on gifts given to our children for a deduction on our tax return?janniaraquel
Declaring Gift taxes for parents sending money?
Posted October 19th, 2008Aditya G asked: Hello My parents have offered to pay for my last 2 years of colleges and are planning to send me $2,000 a month living expenses. I know you can receive only $10,000 as gift money in a year but how do other foreign students manage because their parents are overseas and send [...]
How much money can I receive as a gift without paying income tax?
Posted October 17th, 2008Anandam asked: I live in the US, California. My parents who live overseas want to give me some money as gift. Wondering how much I can receive without paying income tax. Also, when the money is transfered to my account do I need to fill out any form and submit to IRS?keilafabi_74