How Much Money Is Considered a Gift?
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The bankruptcy forms ask whether you gave gifts with a total value of more than $600 per person in the two years before you filed for bankruptcy.
Written by Kristin Turner, Harvard Law Grad.
Updated January 26, 2022
You'll be asked on your bankruptcy forms if you've given gifts in the last two years before filing that had a total value of more than $600 per person. Most of the gifts bankruptcy filers have given will be far below this amount, and the bankruptcy court doesn’t generally care about a modest gift here or there.