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Author: jkrou Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75888  
Subject: Re: Kid's education Date: 10/12/2000 9:11 AM
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Grandma can "gift" each family member (or anyone else she chooses like the postman) up to $10,000 per year free of any tax consequences. So if your daughter puts on her best Catholic manners and asks Grandma for a helping hand gift to attend this school versus the local public high school, it would be free from gift taxes. Of course, Grandma may incur income taxes if this gift involves a distribution from her IRA but if it is just sitting in a fat bank account.....

Good luck,
Jenn
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