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Can a parent give a monetary gift of 13000 cash to and adult child and deduct if from their gross income?
Updated: 11/19/2022
Wiki User
∙ 14y agoBest Answer
No deduction on your income tax return for gifts to anyone.
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∙ 14y agoThis answer is:
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How much money can a parent give a child tax free year?
$13000 in year 2009
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195015% of 13000= 15% * 13000= 0.15 * 13000= 1950
What is 12658 rounded to the nearest thousand?
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45% of 13,000= 45% * 13000= 0.45 * 13000= 5,850
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