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Submitted 466 days ago...

heyjim53

heyjim53

New User (1)

Gift

I have a friend who is going to give me a large some of money, how much can he give me before he has tp pay a tax.

 
Answer
 

Submitted 466 days ago...

guido

guido

Expert (989)

The current limit is $12K/year. So, if the gift is going to be more than that, best to get 12K before the end of the year and then another 12K, or whatever, in the new year.

 

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