How Much Money Can You Gift Someone?

[@linnettedickens1286]

This was so awesome

[@siddheshpedanekar424]

How to show this gift money in my tax return for lowering my income?

[@Ty1499]

Question. So say i win the lottery and took lump sum and got that all sorted out. i wanted to gift 2.5 million to a nephew 2 million in an account where he just gets paid the interest till a certain age then the money is his and 500 thousand if only for buying a house. Now per what your video says i wont be taxed as long as i fill out proper paperwork and it doesnt go over 12 million. Now besides the interest he will get will he be taxed for gaining that money?

[@belindaalanis6834]

Thank you 😊

[@liberaljoe]

But how do you do that with a Traditional IRA without cashing it out? Transfer it so the next generation has to pay the tax? I have been told you can't do that. Frustrated. Thanks

[@miaj.6273]

Great video! Will the individual who receives an amount over the annual limit be taxed on the money they receive and is there a percentage on the amount?

[@socialnetwork1936]

Correct me if I'm wrong... So you can give as much money as you want, to however many people, as you long as you don't go over the 12 million. and then if you hit the 12 million you will then get taxed

[@mrbigcat9]

Can you gift to the same person the maximum for that year and every year forward with out filing a Form 709 Gift Tax Return?

[@Nnnqqq689]

Thank you for the information. May I inquire if I need to pay tax when I, as a green card holder, gift $350k to my husband who is a U.S. citizen? Additionally, I reside in California. Would there be any state tax implications? Thank you

[@theonlyEYEBROWKING]

Let's say I give my mom 18 thousand. But now I want to pay for her groceries monthly throughout the year. Do groceries count towards the gift tax???

[@slice51]

Great video. Thank you. However, we need to get the government out of our lives and out of business. As we have known and some..as we know now, they are completely corrupt.

[@CrackerBolts1488]

They can come and try to take me to jail, but I'm never reporting money people send me via PayPal or Zelle. That's not transactional, if someone is just giving me money to help me out then the government can fuck off.

[@Food4thought1234]

I know this won’t work.. but I don’t see why not.. If you have BTC, and give away 15$ to someone, then they give you 15$ back, wouldn’t that cancel out the capital gains tax?? LOL😊

[@gregmoses8708]

Good to know for when I win that lottery jackpot!😅

[@troydefeo3784]

$17,000 only to give. Then pay taxes. $18,000 per person 2024

[@Cableman-hr2uu]

Simply say, naturally anybody can give any amount of money to anybody since this is just a very basic human right unless you live in a barbarian country which even this basic human right is taken away. you can even bring a big pile of hundred dollar bills on the street and give one to each person passing by, what is the problem of that ??