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Can my mom give me $3000 as a tax-free gift to help me start a business? (I'm 26.)
Asked by isorabins (50)
December 25th, 2007
I'm trying to talk my mom into giving me some startup cash for a small business, and I'm wondering if she can claim it as a tax-free gift. If so, would I have to claim it as income? What are the tax implications if it was a loan instead of a gift?
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