Gifts - $14,000 or less

There is no deduction for giving a gift of $14,000 ($13,000 in 2012) or less. There are no reporting requirements for gifts given or received of $14,000 or less.

Need Professional Help?

If you need help with "Gifts" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.