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If someone gave a gift of $475000 to her niece 5 years ago
If someone gave a gift of $475000 to her niece 5 years ago without reporting the gift or paying gift tax. What should the donor and donee do now? … read more
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Is the gift of equity in my home considered taxable, Not
Is the gift of equity in my home considered taxable, … read more
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Can you read my question i just posted? if i copy paste the
Can you read my question i just posted? if i copy paste the question it says i am duplicating. So dont know how to get that to you?… read more
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My dad wired me $15k in 2013 and another $35k in 2014 as a
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On Form 709, how do you complete Schedule C, Part 1 D&E. In
On Form 709, how do you complete Schedule C, Part 1 D&E. In 2012, a mother gave her son and daughter each 150,000. These are the first gifts she has given. The father died in 2011 and has a DSUE of 3,… read more
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My wife is now a naturalized US citizen and has lived here
My wife is now a naturalized US citizen and has lived here over 30 years. Her parents are Irish nationals living in Ireland with no US assets. Her parents wish to send a gift (money) in the amount of … read more
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Gifts from foreign parents to daughter who is a US citizen.
Gifts from foreign parents to daughter who is a US citizen. Money comes from a US bank. Gift amount about $150,000… read more
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WHAT ARE THE RATE TABLES THIS YEAR FOR A GIFT AND HOW CAN THE
WHAT ARE THE RATE TABLES THIS YEAR FOR A GIFT AND HOW CAN THE GIFT BE SHELTERED OVER SEVERAL YEARS, OPPOSED TO JUST THIS YEAR?… read more
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Our In-laws want to quitclaim there house worth $225K to my
Our In-laws want to quitclaim there house worth $225K to my wife and myself. House is owned free and clear with no leans or back taxes. What are the immediate tax implications to them and us? They wan… read more
Richard
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my mother in law is not a us citizen and also not a us resident.
my mother in law is not a us citizen and also not a us resident. i am a us citizen an my wife a resident allien . she wants to give us a gift of us$ 300,000.00. is there any tax imposed on her or on u… read more
Lev
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I would like to fully understand Gifting (limits per year/total,
I would like to fully understand Gifting (limits per year/total, taxes, implications, etc) in the US under multiple scenarios: 1. Husband: NON-US citizen or Permanent Resident (Green Card Holder), but… read more
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Gift tax- I am wanting to sell my home to my girlfriend
Gift tax- I am wanting to sell my home to my girlfriend to get it out of my name to satisfy a divorce decree. If I "gift" the equity in it so she does not have to put the 20% down to satisfy the mortg… read more
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My husband and I loaned our daughter $241,700 between 2009
My husband and I loaned our daughter $241,700 between 2009 - 2011. Her accouantant had us make the checks payable to her instead of the business. The business went under in 2012. We would now like to … read more
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My husband and I own a farm along with my husbands brothers
My husband and I own a farm along with my husband's brother's widow. We share all crop earnings as an undivided interest. My question is: Is there a way that we can leave our part of the farm to our s… read more
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Gave a substantial monetary gift to family member early in
Gave a substantial monetary gift to family member early in 2011 ( approx $ 128, 000), forgot to report it when filing this year. I let my accountant know and she is handling it right now but she was u… read more
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What is required for C corp and LLC to file if it wants to
What is required for C corp and LLC to file if it wants to make a monetary gift to an individual that is not a shareholder? For example, the C corp wants to make an annual gift of $50k for 3 consec ye… read more
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I am a resident of America holding a green card. My brother,
I am a resident of America holding a green card. My brother, a non-resident alien (no ties to US), recently passed away in middle east. He did not leave a will but has left me with substantial amount … read more
Lev
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If I transfer ownership of my granddaughters 529 plan from
If I transfer ownership of my granddaughters 529 plan from myself to one of her parents, will any gift tax or transfer tax be due? The account assets at this point exceed $17,000.… read more
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