Legal Question in Tax Law in California

Monetary Give without being taxed?
My significant other's mother (mother-in-law?) wants to give each of us a monetary gift but we are unsure what amount will not be taxable. I think that she can give up to $11,000 a year to her child, but what can she give to me, her son's legally registered domestic partner? How often can she do this? :^) And will this change when the new domestic partnership law goes into effect in Jan 2005? (If is this just federal law that applies?) Thanks in advance!

Asked on 4/25/04, 1:44 pm

Joel Selik www.SelikLaw.com

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Re: Monetary Give without being taxed?

Blood relation, or any relation, does not affect the gift tax exlusion in this context.

Answered on 4/26/04, 7:32 am

Cyndi Perez Trostin

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Re: Monetary Give without being taxed?

Your "mother-in-law" may gift each of you $11,000 per year.

Answered on 4/26/04, 10:33 am

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