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    3. My husband and I gave each of our 4 children $5,000 as a gift last year, is there any way we can declare this on our return without any penalty to them or to us?
    My husband and I gave each of our 4 children $5,000 as a gift last year, is there any way we can declare this on our return without any penalty to them or to us?

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    +1  Views: 184 Answers: 2 Posted: 12 years ago
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      2 Answers

      This was not a charitable donation. It was a gift between family members. It is not governed by tax laws. It does not have to be reported. 

      12 years ago. Rating: 2
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        My ex husband gave both our children a substantial sum of money without penalty to any party

        12 years ago. Rating: 0
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