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I received a settlement from RoundUp case. I was wondering how much can I give to my wife, tax free?
AI accountant’s answer:

Gifts to spouses don’t typically trigger any tax repercussions, provided you are legally married. The IRS considers married individuals as one legal entity, so they are typically exempt from gift tax.

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Answer

Gifts to spouses don’t typically trigger any tax repercussions, provided you are legally married. The IRS considers married individuals as one legal entity, so they are typically exempt from gift tax.

No answer given yet!

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Keeper is a delightfully smart tax filing software that's especially useful for people with 1099 contracting and freelance income. Our blog breaks down IRS guidance with real-world examples and analysis by tax professionals — empowering taxpayers to save money and take control of their finances.

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