gift tax

What is the name of your state? Indiana
What $$ amount could you give each person before either is lible for taxes.There are 6 persons involved.

$11,000 usd**************to as many people as you want which

[gobonas99]

Mike,

As you give no details regarding the circumstances of the gifts, I will base my answer on the standard situation - you are a US citizen in the US, who wants to give some of his friends (who are also US citizens in the US) some money.

As the giver of the gift, one can give up to $11,000 to each person (be it 1 person, 6 persons, or 100 persons) per tax year, and not incur a gift tax. For example, you can give $66,000 to your 6 friends ($11,000 each). If you are married, you and your wife can give $132,000 to you 6 friends ($11,000 each from you and $11,000 each from your wife).

As the recipient of the gift, one does NOT have to pay a gift tax (except in very limited, complex circumstances).

-Christina