Is it:
11K PER YEAR,
12K PER YEAR,
11K IN A LIFETIME or
12K IN A LIFETIME.
2006-08-30 01:19:26 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Donate to what? You can give to charity as much as you like. It may not all be deductible however. From your question you might be looking at gifting money. The IRS has the rules for gifting money before taxes are imposed.
2006-08-30 01:26:30 · answer #1 · answered by Bullwinkle Moose 6 · 0⤊ 0⤋
From your choice of answers I infer that you are asking about GIFTS, not charitable donations. For 2006, you may GIFT up to $12,000 per year to an individual without having to pay gift tax (if you're married, you can gift $24,000 -- twelve from each of you). Actually, you can gift any amount, but you would be required to file a gift tax return and possibly pay gift tax if the amount was over $12,000 ($24,000 married).
2006-08-30 14:17:34 · answer #2 · answered by SDD 7 · 1⤊ 0⤋
Base on your income each year. So you can't get one million dollars if you only made ten thousand that year.
Don't ask us. Can you read. Go to www.irs.gov look it up.
2006-08-30 08:29:22 · answer #3 · answered by Paulknowverylittle 3 · 0⤊ 0⤋