10 Popular Tax Questions
Where do I deduct the $15,000 gift exclusion I gave my child?
Gifts are not deductions on an income tax return. People misunderstand what the $15,000 gift exclusion represents. The $15,000 gift exclusion is the maximum amount you are allowed to gift to one individual without being required to file a gift tax return.
Need Professional Help?
If you need help with "10 Popular Tax Questions" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.