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10K gift to reduce taxes from investments for non-working parents?

So my parents don't work & got some cash stocked away in hi-yeld interest accounts. They made about 30K on their investments last year in interest income. What is the best way to reduce their taxes? Is giving 10K to their grandchild going to have an effect on their taxible income?

Public Comments

1. Not directly, but they will not have to pay tax on the future earnings of that 10K (although the grandchild might).
2. It will have no effect on their income. Gifts to relatives are not deductible