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Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks, Master Tax Advisor, Enrolled Agent
Category: Tax
Satisfied Customers: 1257
Experience:  I am a Master Tax Advisor and Enrolled Agent. I have 40 years experience. Trucking specialist.
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How much taxes would you have to pay on a $50.000.00 gift

Customer Question

if you receive a gift of $50.000.00 how much taxes would be taken out
Submitted: 9 years ago.
Category: Tax
Expert:  Sandi Hargrove, SkyHawks replied 9 years ago.

You would not be taxed at all on the gift.

The donor of the gift wuld need to file a gift tax return to report total gifts to you for the tax year that exceed 12000.

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