Income Tax Deductions of a Gift

Gift Income Tax Deduction

Gift Income Tax Deduction

If i give $10,000 to my child, can I deduct it from my taxes?

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Jul 19, 2011
Gift Deductions
by: Steph

If you give $10,000 to your child, your child does not have to claim this money as income, therefore you cannot deduct it from your taxes.

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