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Honored Social Butterfly

Giving money to

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 . 

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