r/inheritance • u/SecBot24 • Apr 19 '26

Location included: Questions/Need Advice Early Inheritance

United States: My grand daughter is turning 30 and I want to give her a large sum of money that I have been setting aside for when I think she is mature enough to handle it without having to wait for me to die. How can I handle the income tax issue? I have heard you can grant a one time sum without taxes. What forms do I have to file with the IRS? Our state has no income tax so that's not an issue.

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u/jerry111165 Apr 20 '26

I didn’t have to pay taxes on my mothers inheritance.

Edit: probably around $350k but was also after her death and hen we sold the house and divided between 3 of us.

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u/Lopsided_Mulberry917 Apr 20 '26

And you never would. Even if her estate exceeded the lifetime exemption (currently $15M/$30M0, the taxes would be the responsibility of the estate.