close
    1. Home
      2. ›
    2. Uncategorized
      3. ›
    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?

    Answer this
    +1  Views: 186 Answers: 2 Posted: 12 years ago
    Comment this question

      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
      Comment this answer

        My ex husband gave both our children a substantial sum of money without penalty to any party

        12 years ago. Rating: 0
        Comment this answer



          Did this answer your question? If not, then ask a new question.

          Top contributors in Uncategorized category

           
          ROMOS
          Answers: 18061 / Questions: 154
          Karma: 1101K
           
          Colleen
          Answers: 47269 / Questions: 115
          Karma: 953K
           
          country bumpkin
          Answers: 11322 / Questions: 160
          Karma: 838K
           
          Benthere
          Answers: 2392 / Questions: 30
          Karma: 760K
          > Top contributors chart

          Unanswered Questions

          500aemlive
          Answers: 0 Views: 5 Rating: 0
          Sunwin | Trang Chủ Game Bài Đổi Thưởng Số 1 Việt Nam
          Answers: 0 Views: 9 Rating: 0
          Hex Nuts Hex Head Bolts Fasteners, Strut Channel Fittings manufacturers exporters suppliers in India www.hindustanengineers.org +91-9888542291
          Answers: 0 Views: 10 Rating: 0
          org789clubpro
          Answers: 0 Views: 7 Rating: 0
          GOOD88
          Answers: 0 Views: 8 Rating: 0
          Nhà Xe Quỳnh Như
          Answers: 0 Views: 9 Rating: 0
          win33pro
          Answers: 0 Views: 10 Rating: 0
          ecommercephilippinescom
          Answers: 0 Views: 12 Rating: 0
          > More questions...
          460963
          questions
          721504
          answers
          775529
          users