Federal Income Tax Deductions

Federal Income Tax Deduction

Federal Income Tax Deduction

My son gifted us $5000.00 in 2011, as we are unemployed and need help with bills.

Is he able to deduct from his federal income tax return. We live in Pennsylvania?

Comments for Federal Income Tax Deductions

Average Rating starstarstarstarstar

Click here to add your own comments

Jun 06, 2018
Rating
starstarstarstarstar 		Gift Tax Deduction
by: Stephanie

Thank you for your question about whether or not your son can claim a deduction on his tax return for the money gift he gave you.

No, as you do not need to claim income on the gift he does not get to take it as a deduction on his tax return.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Deductions Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you every month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.

Like Bookkeeping-Basics.net?