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Reply to "ILs giving us money"
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[quote=Anonymous][quote=Anonymous]Has anyone mentioned yet that they can't give you over a certain amount (used to be $10k) without you being taxed on it?[/quote] It's $15k per person per giver so 2 parents can give each person in the family $30k/year. No tax consequences to the recipient but possibly some to the givers estate (assuming it's over $11.4m.) My mother has given my kids (young adults) cash gifts in each of the last few years. They have NO complaints. OP just invest the money and enjoy the peace of mind it brings.[/quote]
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