Christinq1028
Level 1
04-09-2024
10:45 PM
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My client bought cashier checks and gifted to his children in the amounts of 20,000 and 17,000
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sjrcpa
Level 15
qbteachmt
Level 15
04-10-2024
11:49 AM
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"in the amounts of 20,000"
Exceeds the 2023 gift limit, if that was given to just one person and if the giver/winner is the one person.
Sometimes life is not a tax deduction.
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Christinq1028
Level 1
04-10-2024
12:33 PM
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That is exactly what I told the client but "someone" told them it was. I asked them where the information came from and who did they get that information from. These days there is so much information out on social media making our job that more complicated!
