$26.95 
Learn more
Submitted By: Lillian
Answered: January 29, 2016 12:02 pm
Answered: January 29, 2016 12:02 pm
Can a grandson make a gift to a grandmother?
Yes. While it’s not the usual situation that someone in a younger generation gives gifts to someone in the older generation, there’s no tax rule barring this. In fact, under tax law there’s no bar to gifts being made by minors.
advertisement
Featured Books
Tax Glossary
Deductions
Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.
