Ethics of Outside Scholarships

3bm103
Sat, 07 Jul 2007 07:29:59 +0000

Just to clarify: gifts are never taxable to the recipient even above the current $11,000 limit. They are not reported on the recipients income tax return. I think you have that confused with the rule that if you GIVE over that amount, you must file a Gift Tax return. But that is done by the giver. It does not necessarily mean any tax is due on the gift.