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If I were Filthy Rich
By Throwawayyynow+13 Scenario Question
Lets say you were to invest in t-bills and live off the interest. That money goes into your checking account. Could you give your relative (mom) a debit card with a monthly limit to that account and not pay a gift tax?
Recent responses
+15 @FreeEntrance476 As long as it's under the threshold for the yearly exemption, which iirc is 17k for single filers and 32k for couples. Otherwise it would count against your lifetime exclusion of 13 million.