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You helped me with the following question on sept 8th. "I
Hi. You helped me with the following question on sept 8th. "I received a settlement from a personal injury. I want to gift some money to caregivers. The amounts will exceed the annual exclusion limit … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
5,984 satisfied customers
If i give my adult son 100000 towards the purchase of a home
if i give my adult son 100000 towards the purchase of a home that i will be staying in shortly will there be a gift tax involved. I have never gifted money before… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
How can I pay off my sons mortgage ($40,000) & avoid the gift
How can I pay off my sons mortgage ($40,000) & avoid the gift tax snag. I'm 82 and his help is invaluable to me ( I do not live with him). Thank you for any info. or advice you can give me.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
What are the parameters when it comes to Gifting and taxes
What are the parameters when it comes to Gifting and taxes from an LLC to an individual? What is the exemption limit? How frequent can it be done? If an LLC were to gift someone $100k, but wanted to s… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My wife and I made a gift to our son down payment on a
My wife and I made a gift to our son for a down payment on a house. Say the gift was 50,000. How would my wife and I report this on our tax return? Can my wife and each use a 14,000 gift?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
A relative wants to gift us money. She would like to give
A relative wants to gift us money. She would like to give us a total of $20,000. she was told that she can give us $10,000 as a give in a one year period. The relative has not yet filed her 2014 tax r… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I would like to help my parents with down payment on a home
I would like to help my parents with down payment on a home purchase. How much money from my own account can I give them without running into any tax situations?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My father gave me a check for $10,000 to invest in an account
My father gave me a check for $10,000 to invest in an account for my 7 year old son's future college expenses. He wrote the check out to me and I cashed today and put it into a 529 account. I am worri… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,358 satisfied customers
I would like to give a cash gift to my son. I was told that
I would like to give a cash gift to my son. I was told that I could give $13,000/year without an income tax burden for him. Is this correct?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
what is the amount that can be gifted per year and per person
what is the amount that can be gifted per year and per person without incurring a gift tax. and, does giving that amount require a report or return? thank you. dick… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My daughter, a US citizen, lives in Denmark with her husband,
My daughter, a US citizen, lives in Denmark with her husband, a physician. They are hoping to come to the US where he would have to go into a residency program in order to practice medicine in the US.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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My fiance passed away in February. He left me his car that
My fiance passed away in February. He left me his car that was valued at $10,500 at CarMax. He also left me a percent of the sale of his home he purchased around a year ago. Does the car count as part… read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
Is there a Gift monetary amount limit given to Son and Daughter
Is there a Gift monetary amount limit given to Son and Daughter re: IRS tax regulations & which publication covers these gift exceptions from taxation liability to donor or recipients. Thank you for y… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,481 satisfied customers
Can my wife and I give our son $14000.00 each with no taxes
Can my wife and I give our son $14000.00 each with no taxes need be paid from either parties this year?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
For LEV only : We are a family of husband , wife and 11
For LEV only : We are a family of husband , wife and 11 yrs old son living in US on US Green Card . Please clarify the below : (1) If the unearned income of my 11 yrs old kid is less than $1000 in a y… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
I want to give a $100,000 gift in one lump sum to my son to
I want to give a $100,000 gift in one lump sum to my son to help him buy a house. This is more than the $13,000 year "maximum" permitted, but does going over the maximum just mean that I have to file … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Dear Sirs,I am an American citizen and live in Brazil.
Dear Sirs, I am an American citizen and live in Brazil. I intend to buy a property in Miami for my son worth usd250,000,00 (who is also Brazilian/American) and give it to my son as a gift this year. Q… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My Dad owns mineral rights which he anticipates selling in
My Dad owns mineral rights which he anticipates selling in the near future for a substanial amount of money. He wants to gift a large chunk of it to myself and my sister after the sale. How can we min… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
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