How much money can a person give to his adult child without the child having to pay taxes?

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How much money can a person give to his adult child without the child having to pay taxes?

Asked on December 13, 2013 under Estate Planning, South Carolina

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You can find the information regarding gift taxes and exemptions through the Internal Revenue Service. The amount may change each year but I believe it is about $14,000.00. The IRS has free circulars and information on this subject and would be able to give you the full details, including other items you may need to consider in this area of possible taxation.


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