Many or most do not know that you can give money, above the $15,000.
Its IRS form 709. The money you give you report and it goes aginist the amount you can give at your death. Example...you give $80,000 to say Bob. And if you have a estate of under the taxable amount which is 5 million Bob pays no tax. Most states also have estate taxes.
We gave one of our children money so he could pay off his homes mortgage and will file a form 709 .
Many or most do not know that you can give money, above the $15,000.
Its IRS form 709. The money you give you report and it goes aginist the amount you can give at your death. Example...you give $80,000 to say Bob. And if you have a estate of under the taxable amount which is 5 million Bob pays no tax. Most states also have estate taxes.
We gave one of our children money so he could pay off his homes mortgage and will file a form 709 .
