How can I gift money to my child from my 457 account tax free for me and my child?

You can’t. In order to get funds from your 457 account, which is a government retirement plan, you must take a taxable distribution. Then you can use the after-tax funds to make the gift. For income tax purposes, your child won’t be taxed on the gift, but you will. However, gifts of $13,000 or less this year are free of any federal gift tax.