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Old 12-14-2003, 02:44 PM
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Join Date: Feb 2000
Posts: 9

Gift Tax

What is the name of your state? New York

My parents have a joint bank account. They recently had my name(their son) added to their bankbook so I can do their banking for them due to their age. They each want to give me a gift of $11,000ea. Being that my name also appears on their bankbook would this cause a problem with the IRS? Kindly help if you can. I live in NYC. Many Thanks.
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Old 12-14-2003, 03:33 PM
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Join Date: Jan 2000
Location: Los Angeles, California
Posts: 38,191
My response:

This exact or similar question has been asked numerous times. Please click on the "search" button at the top right of this page, and use the phrase "gift tax" as your search term.

Thank you.

IAAL
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