What is the total amount of cash that a relative can give as a gift without it being taxed?
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This dollar amount has been changing each year due to a change to the tax laws. For calendar year 2009, the limit is $13,000 per donor per donee. Even if the $13,000 limit is exceeded, there are additional lifetime limits that may mean no tax is owed on the gift. For a more definitive answer, contact a qualified tax adviser.
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This dollar amount has been changing each year due to a change to the tax laws. For calendar year 2009, the limit is $13,000 per donor per donee. Even if the $13,000 limit is exceeded, there are additional lifetime limits that may mean no tax is owed on the gift. For a more definitive answer, contact a qualified tax adviser.
