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[[s there a minimum for when a gift is tax deductible. Say my in-laws give my wife and I a gift of
$100. Is this tax deductible for them. If they give us this gift every month of the year are all of these
gifts tax deductible? I guess what I am asking is what is the minimum a gift has to be to be
deductible and can one person give multiple gifts to the same person and count the total for the year
as a tax deduction as long as that total is not over 10K??? ]]

Actual gifts are neither deductible by the donor, nor taxable to the recipients. So I'm really at a bit of a loss on how to answer this question.

I have a post in the Taxes FAQ area regarding gift tax issues and the annual $10k exclusion...how it works...some of the issues involved. You'll find it in the Taxes FAQ area in the "archives" section. You should really check it out.

After reading the FAQ, if you have any additional questions, post 'em here...

TMF Taxes
Roy

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