how much can my Mom gift me per year that I wont have to pay tax on?
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Read More Answered By: Walter LeVine |
Gifts are not taxable income, unless they are made from taxable income deferred assets. Annually, she can give you $13,000 and she also has a lifetime exemption of One Million Dollars. She should consult a professional familiar with gift tax law to be sure she is handling it properly. |
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