Legal Question in Tax Law in Wisconsin

What is the max. amount of money that can be gifted to an individual, without them paying taxes on that gift?

If a married couple, can both receive an individual check for the max amount and still not pay taxes on that money?


Asked on 8/13/09, 9:11 am

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

Gifts are not taxable by the IRS to the recipient. You, as the giver, can give $13k per year per recipient. If your spouse joins in on the gift, the maximum is $26k per recipient.

I hope this helps!

Ron Cappuccio

http://www.SaveYourEstate.com

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Answered on 8/18/09, 6:24 pm


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