IS GIFTING LEGAL?

American and Canadian citizens have the Constitutional right to gift property, cash, and other assets. The U.S. gifting rules are found in the IRS Tax Code, Title 26, Sections 2501-2504 and 2511. The law states that one or more individuals can give a gift to another individual of up to $12,000 each per calendar year, without any tax liability. The gifts are not included in the gross income of the recipient.

These statements about the tax code in no way can be construed as tax advice! Many people in the Gifting world claim their gifts as income, so it will be up to you to decide what is right for you. Consult your tax accountant or attorney.

Not all Gifting clubs are legal. People have created them on all sorts of business models, and many have been closed because of their illegal structures. This Gifting Club has been around for over 6 years, it is a solid, legal club that has no issues with the government or the IRS.

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