Jamie Canup Quoted on Paying Tuition Without the Gift Tax, The Wall Street Journal

07.07.2015

In an article published by The Wall Street Journal on July 6, 2015, Hirschler Fleischer tax practice chair Jamie Canup explains whether a grandparent can pay for a grandchild’s college tuition and still be able to give a $14,000 gift to cover other expenses. “Anyone can pay college tuition directly to the institution and still be able to make a gift of $14,000 to their grandchild…without affecting their annual gift-tax exclusion for that individual,” said Canup. That $14,000 is the maximum a grandparent generally can give to each grandchild in one year without incurring a federal gift tax. You may read the full article here.