How to transfer $15K - $20K without raising undue suspicion?

I wish to give a person a gift of $15,000.00 to $20,000.00.

This person lives in another state of the US.

I do not want to travel to that state.

I wish to send the money without causing any agency to have suspicion of any illegal activity or to cause the other person to have to pay taxes on it. I really don’t feel like travelling to the other state.

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This person did me a great favor that has befitted me financially to the tune of over $100,000.00.

He asked for nothing in return.

There is nothing illegal going on.

How can I achieve my goal?

6 Answers

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  • 2 months ago
    Favourite answer

    Hi Kitty!As long as you have a paper trail of the money, there is no suspicion.

    That means that you have paid taxes on the money.

    You write a check or do a wire transfer.

    No one is notified about anything.  Cash is reported to the IRS, not a check.

    If the gift is valued at $15000 or less, there is no reporting required (2020 amount)

    If you gift more than $15000, you (the giver) does gift tax reporting but there is no tax due until you have gifted over $11.58Million (2020 amount). 

  • Isabel
    Lv 4
    2 months ago

    You’re still obligated to pay gift tax on that amount. If you pay it in amounts less than $14,000 per year over several years, depending on your state, you may be OK. Consult a lawyer

  • Anonymous
    2 months ago

    Check or wire transfer.  Either are fine. Not cash.

  • Anonymous
    2 months ago

    Write a check for it and make sure u put is as a gift.if this is the first time your giving a check with that large amount of money just explain to the bank it’s a gift 

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  • 2 months ago

    This person would not have to deal with any taxes if it were a gift. YOU, as the giver, have to file a gift tax if it's over $15k. So you write a check for $15k. It won't cause any suspicion. It will getting flagged, but if it is legit just a gift, then there is zero reason for anyone to care. It's typically patterns of activity which are an issue.

  • Murzy
    Lv 7
    2 months ago

    Transfer only 10k at a time.

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