re: #190 laZardo

QUICK QUESTION:

I’ve recently decided to give 10% of my income (roughly $25-ish/wk) to help my mom pay the bills back in Manila.

The thing is that I’m having it direct-deposited to her account. She’s worried she’ll be taxed on it, even though the Safeway site lists it as my income. Is she correct?

The only way the IRS would know anything is by the form the Bank has to file for any interest she earned on the account.

$3000 a year —you can gift up to $10K to a person in one year and avoid tax.