Can I gift $50000 to my cousin. I am currently a resident of US

Anonymous Feb 12, 2015 4 views 1 answers

My parents are going to be remitting money from India to my account -$50,000 . I wish to further transfer that to my first cousin here in the US. Am I legally allowed to gift him $50k or is there any other way. What about tax implications

Attorney Answer

Jeffrey L. CohenTax LawyerAtlanta, GA

Jeffrey L. CohenTax LawyerAtlanta, GA · Jun 15, 2026

If you are merely acting as a transfer agent for your parents, yes you can. And if you are the one actually making a second gift, you can still do it. However, you will need to file a gift tax return with the IRS. No gift tax should be payable, though.

0 upvotes

Browse by Practice Area

Litigation 203,509 attorneys Real Estate 156,159 attorneys Personal Injury 149,024 attorneys Criminal Defense 99,634 attorneys Family Law 95,894 attorneys General Practice 90,854 attorneys Business Law 84,818 attorneys Business 82,448 attorneys Criminal Law 72,552 attorneys Intellectual Property 61,381 attorneys

Browse by State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii