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?

Comments for Income Tax Deductions of a Gift

Average Rating starstarstarstar

Click here to add your own comments

Jul 19, 2011
Rating
starstarstarstar 		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.

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?