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Can you let me know regarding Gift Tax policy. I am a Non
Hello Can you let me know regarding Gift Tax policy. I am a Non Resident Alien working in United States. Can I receive gift amounts into my bank account from my friends, relatives etc. Incase if I rec… read more
Rick
Rick
MBA
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I have a question about tax. When I receive money from
Hello,I have a question about tax. When I receive money from SouthKorea, is there limit that I can receive the money up to? I am not citizen of US yet but am trying to apply for citizenship through ar… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
Question about the tax form 3520: I'm a legal alien and my
Question about the tax form 3520: I'm a legal alien and my mother died years ago in Europe. She had a house and my brother leaved in it. He is going to sell it in a couple of weeks and part of the mon… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
I live in Wisconsin. I understand that $10,000 a year is the
I live in Wisconsin. I understand that $10,000 a year is the maximum amount of money that can be gifted to me without having to pay any taxes on it. I was gifted $10,000 about a month ago. Does this m… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,372 satisfied customers
My family recently had a funeral for my father. One relative
My family recently had a funeral for my father. One relative gave $20,000 check to my mom so she could cover the expenses, but since I paid for the funeral she endorsed the check to me and my wife. Do… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 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
4,220 satisfied customers
MY wife recieved a chesk from our son for $10,000, We file
MY wife recieved a chesk from our son for $10,000, We file joint returnes. Should we mark the chesk pay back for money we have loaned him ($30,000) or payment for a motorcycle we gave him? We would li… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
Hello....what is the maximum amount that someone can receive
Hello....what is the maximum amount that someone can receive as a gift without concern for paying taxes? I am told the person who is issuing the check has paid any taxes due - but I want to be sure I … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,415 satisfied customers
Hello. I just received about $160K on an investment that I
Hello. I just received about $160K on an investment that I made back in 1999. In 1999, I borrowed 10K from someone (there is no paperwork and the loan was made in cash). I would like to repay the 10k … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
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
Richard
Richard
Tax Attorney
Doctoral Degree
4,937 satisfied customers
I formed an LLC last year to produce an independent feature
I formed an LLC last year to produce an independent feature film. It was financed primarily with my own funds. I wrote checks from my personal account to the LLC's account. We are now in post producti… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,748 satisfied customers
In 1987 and years forward, what was the gift amount between
In 1987 and years forward, what was the gift amount between family members that you did not have to report on Federal form as taxable, Did New York state follow that rule Thank you XXXXX XXXXX XXXXX V… read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
567 satisfied customers
My dad is currently in hospice and expected to pass any day.
My dad is currently in hospice and expected to pass any day. he has approx 270,000 in cash in his accounts. His will leaves the funds equally between 6 children. my brother had suggested that he write… read more
Anne
Anne
Master Tax Preparer
2,531 satisfied customers
Are international wire transfers reported to the IRS?
How do I avoid paying tax if I will receive $100,000 from overseas? I receive this money because my parents want to give it to me to help me get a house in the U.S. I know bank will notify IRS if ther… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My parents sent me a $20,000 dollar gift to help me buy I house
My parents sent me a $20,000 dollar gift to help me buy I house and I would like to know what the tax consequences are for me and them. They sent me a check from their joint account in the US. They li… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I am an American citizen. I have no earned income for the past
I am an American citizen. I have no earned income for the past 25 years. My husband is Italian. We live in Italy. I have an Italian checking account into which he deposits money for family expenditure… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Hi there, I am a Green Card holder as of now and might
Hi there, I am a "Green Card" holder as of now and might receive Citizenship by March 2009. I have Tax questions as follows: My parents who reside in foreign country wants to gift me. They want to tra… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Hello - You were very helpful two days ago and so I
Hello - You were very helpful two days ago and so I thought I would ask you another question. I receive cashier's checks from time to time and I go to my bank and cash them and then put the cash into … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
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