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Posted by Arthur Kamlet on August 13, 2007, 10:23 pm
Please log in for more thread options > Arthur Kamlet wrote:
>>> Looking at what options are available to aid
>>> daughter/grandkids w/ medical and health insurance as well
>>> as longer term for education, etc.
>>>
>>> Am curious if there are any techniques that would allow for
>>> direct payment of medical expenses, etc., as non-counting
>>> towards gift tax limits.
>>>
>>> Alternatives to mix/match w/ 529, HSA, directed trust, etc.,
>>> are what am looking for some guidelines/considerations that
>>> have beneficial effects from both tax liability of
>>> donor/donee and estate reduction considerations are of
>>> interest...
>> You can pay a medical provider for medical expenses and
>> those payments are not counted towards gift tax.
>>
>> Similarly you can pay tuition expenses for higher education
>> directly to the school and no gift tax here either.
> OK, thanks -- I had been looking for that and unable to find
> it. Do you or someone else know where I can find the
> applicable rules?
>
> Would direct payment for health insurance qualify similarly?
Yes.
See "Transfers Not Subject to the Gift Tax" on Page 2, here:
http://www.irs.gov/pub/irs-pdf/i709.pdf
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
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