Re: Deductible Gifts to Individuals

From: "Harold R. Justice" <hjustice@concentric.net>
Subject: Re: Deductible Gifts to Individuals
Date: Sun, 11 Apr 1999 14:16:52 -0500

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You cannot deduct a gift to an individual, no matter the amount. Gifts under
$10,000 to an individual are not subject to the gift(or estate) tax. You do not
have to report such gifts. So, therefore, tax software does not support a
deductible since there is none.

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Original post.

Hi,

Two brief questions:

(1) If one made tax-free gift ($<10,000) to individuals (not to =
charities), where should one put the (deductible?) amount in Form 1040?

(2) Does TurboTax/TaxCut support this kind of entry?




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