JustAnswer > Tax
Ask A Question|Register|Login|Help
JustAnswer

Tax
Ask a Tax Question, Get an Answer ASAP!

Have your own Tax question?

2 Tax Professionals are Online Now
characters left:
Not a Tax Question?

Related Tax Topics:

  • Tax
    • ,
  • Gift
    • ,
  • File
    • ,
  • Form
    • ,
  • Year
    • ,
  • Gifts
    • ,
  • Filing
    • ,
  • Income
    • ,
  • Return
    • ,
  • Receive
Bookmark and Share

Question

How much in a monitary gift can I recieve yearly without claiming it as income or the giver having to file paperwork on it

Submitted: 74 days and 5 hours ago.
Category: Tax
Value: $15
Status: CLOSED
+
Read More

Optional Information

Country/State/Province of question: Tennessee,and Maryland

Accepted Answer

Dear XXXXXXXXXXX -

 

As a recipient of a gift, you have no tax filing requirements. The donor is required

to file a gift tax return (Form 709) if you receive gifts of more than $13,000 in a calendar year. There will be no tax due until the donor's taxable gifts exceed $1,000,000 during their lifetime.

Picture
Expert: Steven Meyerson, CPA
Pos. Feedback: 99.2 %
Accepts: 
Answered: 9/9/2009

Certified Public Accountant (CPA)

CPA, Over 29 yrs experience w/individuals and small businesses. Masters in Tax, Divorce Specialist

+
Read More

Related Tax Questions

  • my 17yo son lived with us all year long.
  • I own a .020001% of a limited partnership (not PTP) that inv...
  • I received a K-1 (1120S) with a loss of $24,000.
  • I work part time and in this pay, my federal withholding was
  • I did not pay caregiver taxes (nanny taxes) in 2008 and I ne...
  • OK.....I applied for a business tax id number and I am using
  • I want to appeal the lien on my home (2001) due to a Corpora...
  • I'm living with someone and we share the expenses. Must I de...



Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Question List | Become an Expert | Terms of Service | Security & Privacy | About Us
© 2003-2009 JustAnswer Corp.