Reported about 23 hours ago
Suze Orman addressed a listener's question on her podcast regarding the possibility of gifting $17,000 to help with student loans and receiving a tax deduction. Orman clarified that while the IRS allows gifting up to $19,000 annually without tax implications for the giver or receiver, such gifts do not qualify for tax deductions like charitable contributions. She encouraged the listener to assess the impact of financial help on her son's long-term financial habits, emphasizing that the intent behind the gift matters more than any potential tax advantage.
Source: YAHOO