How Much Money Is Considered a Gift?

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In a Nutshell

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.

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Written By:

Kristin Turner, Harvard Law Grad

Kristin is a recipient of Harvard Law School’s Public Welfare Foundation A2J Tech Fellowship. At Harvard Law, she served as a member of the Harvard Defenders, the Women’s Law Association, and the Harvard Law Negotiation Review. She was the 2016 – 2017 president of the Harvard Bla... read more about Kristin Turner, Harvard Law Grad

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How Much Money Is Considered a Gift?

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