My daughter planned and paid for a vacation trip she and my wife took recently.How can we pay her for all the costs and still give her the respective annual $15K gift allowed by the IRS w/o causing an IRS audit? Thanks for any insights.
Lots of good stuff on this IRS page --https://www.irs.gov/businesses/small-businesses-self-employe...It isn't about an audit, but a gift tax limit. You will want to check with an expert, but I believe it is $15K each, so $15K for you and $15K for your wife in 2020.Vicki
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