Hi:
Can someone answer the following question:
I understand there is a $13,000 limit on the amount that any individual can give to another individual without gift tax being involved, and that for a married couple giving the amount is doubled to $26,000. Now, can my wife and I give $26,000 to my son and ANOTHER $26,000 to his wife without the gift tax being invoked, or is there a limit for the couple receiving the money of $26,000?
Thanks in advance for an answer.
regards
John Baker