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Reply to "What is the max per year parents can gift children tax free?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You can do $18k per person. Out inlwas did thst. FIL gave me and DH $18k and then MIL $18k each. Thats $54k[/quote] Isn’t that $72K?[/quote] And they call also give to the kids, $18k per or 36k total per kids[/quote] This. And only for direct gifts. If a grandparent pays a bill for a grandchild, that’s in addition to the 72K. The government just tracks the gifts because they count against the lifetime exclusion (11M or so) but it’s all tax free.[/quote]
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