No, gifts given to your children are not tax deductible. You can give up to the annual exclusion amount ($15,000 in 2019) to any number of people every year, without facing any gift taxes. Recipients generally never owe income tax on the gifts. For additional information, see The Gift Tax.

Question

can we deduct stock we gave to our childern

Forum|Forum|6 years ago
January 27, 2020
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H

HelenC12

No, gifts given to your children are not tax deductible.

You can give up to the annual exclusion amount ($15,000 in 2019) to any number of people every year, without facing any gift taxes.
Recipients generally never owe income tax on the gifts.
For additional information, see The Gift Tax.

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