Dear Carrie: If my mom gifts her grandchildren $12,000, will they have to pay taxes on it if they are under 18 or full-time students? — A Reader

Dear Reader: I'm glad you asked this question because there's a lot of confusion — and concern about taxes — when it comes to giving money. Although it is always a good idea to consult an expert when it comes to tax issues, the short answer to your question is no. In fact, your mother can gift any amount to her grandchildren, ...

( Back to Article )