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Gifts

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  4. Do payments to my granchild's education reduce the annual gift tax exclusion of $14,000

Do payments to my granchild's education reduce the annual gift tax exclusion of $14,000

Contributions to your grandson's tuition directly does not reduce the annual gift tax exclusion of $14,000 ($13,000 in 2012). The gift tax exclusion for paying another's tuition or medical expenses directly is unlimited.

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