For 2013 you may gift any person up to $14K without triggering a gift tax return on your part. The gift is never taxable to the recipient unless it is a non-cash item and then it is taxable on sale but they get to deduct your basis from the gain. If your child happens to be married and you do as well, theoretically you could gift the couple up to $56K a year with no gift tax return. You gift $14K to the child and spouse each and your spouse does the same.