Legal Question in Tax Law in Pennsylvania

Gift Tax

I understand my mother can gift me up to $12,000 in a calendar year. Can I receive additional gifts from other members of my family as well, or is $12,000 per year the most I can receive? My uncle wants to give me a monetary gift this year. I already received one monetary gift this year from my mother.


Asked on 12/17/07, 2:57 pm

1 Answer from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Gift Tax

There is no limit on the number of gifts you may receive. All of the gifts are income tax free.

I hope this helps!

Ron Cappuccio

http://www.SaveYourEstate.com

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Answered on 12/17/07, 3:06 pm


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