How much does a student have to make before they can actually deduct a tax-deductible gift?

I have heard you cannot deduct a tax-deductible gift if you do not have a certain income. Is this true?

How much does a student have to make before they can actually deduct a tax-deductible gift?
You can't deduct a gift, period. There isn't any such thing as a tax deductible gift, unless you are talking about a charitable donation to a 501(c)3 organization. If that's what you are talking about, it has nothing to do with being a student, but you'd have to itemize so you'd need total itemized deductions that are more than your standard deduction ($5350 for 2007 if you are single) - and if you don't owe any tax, there is no advantage to itemizing.
Reply:A gift is not tax deductible. You must mean tax deductible expenses.
Reply:You may have misworded your question, as gifts are not deductible.





If you mean charitable contributions, they can be deducted as an itemized expense. It does no good to itemize, however, if your total itemized deductions are less than your standard deduction. For a single person, the 2007 standard deduction is $5,350.