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Gift Tax Student Loans

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Can I Pay My Kid's Tuition Without Triggering the Gift Tax ...

A: You should be able to avoid the gift tax if you help your daughter pay off her student loans, but you need to keep some IRS rules in mind. Any gifts that stay within the annual gift tax exclusion—which is $14,000 in 2016—are not taxable.

Student loans, tuition, and gift tax implicatio - Q&A - Avvo

Student loans, tuition, and gift tax implications. My grandmother would like to pay off my student loans and my tuition for next year. I would like to advise her on the best way to minimize the tax impact of this gift which will total $200,000. I would like to know the best way to structure this transaction fro.

How to Give Money to Students and Avoid Gift Tax | SmartAsset

The IRS allows you to gift a certain amount of money or property to someone before the gift tax kicks in. For 2014, the annual exclusion limit is $14,000 per person. That means you can give your student up to that amount directly without having to worry about paying the gift tax.

Paying the College Directly to Avoid Gift Taxes - Fastweb

In such a circumstance, a better strategy is to contribute the money to the student’s 529 college savings plan. One could also wait until after the student graduates from college and help the student pay down his or her student loans as a graduation gift. Gift Tax Exclusion. Section 2503 of the Internal Revenue Code of 1986 discusses gift taxes.

Tax Hit If Parents Pay Kid's Student Loan? - Bankrate.com

Paying off your kid's student loan is a nice thing to do. Keep in mind that Uncle Sam considers that a gift.