Gifting
My parents are thinking of gifting me $15,000.00 or possibly more. How many times are they allowed to gift me $15,000.00 a year? Thanking you in advance. Sandy
Terry Says
Starting in 2022, they can gift you (or anyone) $16,000 a year — each! So it they really want to give money to you, they could give you a total of $32,000! And there are no tax consequences — for the giver or the recipient.
But please ask them to think twice –unless they have a LOT of money. One day they might need it!
