It is not taxable unless it is an appreciated asset such as a house or stock
It is not taxable unless it is an appreciated asset such as a house or stocks and even then the gain is only taxable upon a subsequent sale by the recipient. If she has cash or unappreciated assets she should feel free to give away anything IN EXCESS of what she needs.
As my mama said "The best gift is one given with a warm hand"
Greg, retired CPA
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