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J
jacobtsteel
November 22, 2023
Question

Does paying my parents back for college/grad school tuition fall under the gift tax limits?

  • November 22, 2023
  • 1 reply
  • 0 views
Our parents are wanting us to reimburse them for tuition they paid >5 years ago.   We’re fine paying them back, but are concerned that these re-payments to our parents would be classier as a gift (and subject to the usual gift tax limits, etc.)

1 reply

Hal_Al
Hal_Al
Employee
November 22, 2023

Q. Does paying my parents back for college/grad school tuition count as a gift and fall under the gift tax limits?

A. No, because it's repayment of a loan, even if it was not labeled a loan, back when you were a student.  The intent seems to be clear enough. 

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