I would like to give $10,000 to my mother-in-law who lives out of the country. Will I have to pay a gift-tax?
I would like to give $10,000 to my mother-in-law who lives out of the country. Will I have to pay a gift-tax?
If you have a complicated estate or just need legal advice, Nolo can help you find a lawyer.
From a legal standpoint, gifts of up to $13,000 per recipient per year are gift-tax-free, no matter to whom they are made. From a non-legal standpoint, gifts you make to your mother-in-law earn huge karma points.