Legal Question in Tax Law in Florida

Advice related to your inquiry depends on several factors. To be considered a gift for tax purposes, you must have written confirmation of the gift, indicating amount, donor and donee. If the gift is to your adult children rather than a charitable organization, you cannot consider it as a tax deduction. Unless the amount is very large, the amount of the gift to your children will not increase your taxes (or theirs) but will not reduce your taxes. Specific advice requires facts regarding your tax situation during the period of making the gift.