How much money can I give to my son and to my daughter-in-law each year without a tax penalty.?
Asked on 7/23/10, 10:49 am
1 Answer from Attorneys
$13,000 to each for a maximum of $26,000 for 2009.
See http://www.irs.gov/pub/irs-pdf/p950.pdf. You should speak to your CPA or tax attorney about this.
Answered on 7/27/10, 11:47 am
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