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If I understand correctly from my non-CPA googling, $15K is just the amount you don't have to report to the IRS. You can give more, up to a lifetime limit of se
by DennisP 7y ago
If I understand correctly from my non-CPA googling, $15K is just the amount you don't have to report to the IRS. You can give more, up to a lifetime limit of several million, before the gifts are taxed. How that interacts with medicaid, I have no idea.
- Gibbon1 7y agoThis is correct the 15k per year is just a reporting limit.