L
LCM
Guest
What is the name of your state? I live in Indiana.
I am 41 years old and have a minor daughter. My mother is supporting us for a few years so I can stay home with my daughter while she is young. We live in separate residences. Can she claim my daughter and me as dependents? Also, can she gift my minor daughter $11,000.00 without paying gift tax? My Mother is under the impression that since my daughter is a minor something special like a trust or special bank account would have to be set up. Thanks.
I am 41 years old and have a minor daughter. My mother is supporting us for a few years so I can stay home with my daughter while she is young. We live in separate residences. Can she claim my daughter and me as dependents? Also, can she gift my minor daughter $11,000.00 without paying gift tax? My Mother is under the impression that since my daughter is a minor something special like a trust or special bank account would have to be set up. Thanks.