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I have a question about 3250. I am filing tax jointly with
Hi Barbara, I have a question about 3250. I am filing tax jointly with my husband. in 2020, we both received cash from our relatives outside USA. my husband total amount does not exceed 100,000usd. Do… read more
Barbara
Barbara
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I had a question about capital gains and gift taxes? Is it
I had a question about capital gains and gift taxes? … read more
Barbara
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I have tax questions regarding gifts. Hawaii. 22 and yes.
hello i have tax questions regarding gifts JA: Hi there. Where are you currently located? Customer: hawaii JA: How old are you? Do you have any dependents? Customer: 22 and yes JA: What is your typica… read more
emc011075
emc011075
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If you can answer please, i need send my brother gift of
If you can answer please , i need send my brother gift of 20k, if i send from joint account it be from me and my husband do i need file gift tax return ? … read more
Mr. Tax
Mr. Tax
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Mileage deduction was taken for a passenger car on business
Mileage deduction was taken for a passenger car on business schedule C in 2015 and 2016 on MFJ 1040 return. It was gifted to a relative in 2017. How it should be reported if FMV when it was gifted was… read more
Stephen G.
Stephen G.
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If $14K is the limit per gift to a son, does giving his wife
If $14K is the limit per gift to a son, does giving his wife the same amount show up as 28K on their joint IRS form? … read more
Barbara
Barbara
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I purchased an old factory building in a historic district.
Hello, I purchased an old factory building in a historic district. The building needs significant repairs to be put into service. I'm not a non-profit, but I'd like to ask people to make donations. Ar… read more
Arthur Rubin
Arthur Rubin
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I bought a house in Arizona in 2010 which I have been
I bought a house in Arizona in 2010 which I have been renting out to my brother in law. My wife and I are both on the title and we have been "gifting" him and his wife the most allowed by the IRS ever… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,747 satisfied customers
Pam -- We gave our son $19K toward downpayment of a house in
Pam -- good morning. We gave our son $19K toward downpayment of a house in 2015. The house is in he and his wife's name. I know we are exempt from the $14K, but how much do we owe on the other $5K? Th… read more
R. Klein, EA
R. Klein, EA
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Trying to figure out the gift tax exclusion from one married couple to another. It seems l
Trying to figure out the gift tax exclusion from one married couple to another. It seems like it should be 4 × the $14,000 standard exclusion, or $56,000. What I'm not sure is whether it could all be … read more
Tax.appeal.168
Tax.appeal.168
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My wife received a 2013 Buick Enclave as a gift early this
My wife received a 2013 Buick Enclave as a gift early this year from someone who later past away. Now she is thinking of gifting this same car to a non resident alien friend visiting in New Jersey bef… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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My brother lent my 50K in cash (over the course of a year or
My brother lent my 50K in cash (over the course of a year or so) a few years ago. . . now I have the money to pay in back out of my callable CD. Can I just send a wire transfer to his account? Is that… read more
Robin D.
Robin D.
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My spouse and I are going to sell my son and his spouse a 2nd
My spouse and I are going to sell my son and his spouse a 2nd home we own. The property is valued at $260,000 +/- 5K. We have a $150,000 mortgage on the home and approximately $110,000 equity. We want… read more
Lane
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We live in community property state (California) and my wife
We live in community property state (California) and my wife stays at home with no income. We've opened 529 account and planning to contribute $28k for our kid this year. I am trying to minimize amoun… read more
Megan C
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I want to give my used SUV to my uncle as a gift. The market
I want to give my used SUV to my uncle as a gift. The market value of the SUV is around 50k. The title has both my name and my husband's name on it. If we transfer it to my uncle and aunt, do we have … read more
Lev
Lev
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Hi! W is sole donor of gifts to children. H makes no gifts.
Hi! W is sole donor of gifts to children. H makes no gifts. W & H elect to split gifts. H must file Form 709. What information must H include in Schedule A of Form 709? Thanks for your help.… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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Hello. My husband and I want to gift our son $20K for a
Hello. My husband and I want to gift our son $20K for a downpayment on a house. Of course we don't want him to pay a gift tax. Can I give our son $10K from a money market trust account that is only in… read more
RD
RD
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Master's Degree
1,129 satisfied customers
My wife just received a gift from her mother of $40k. to ...
My wife just received a gift from her mother of $40k. to avoid taxes can we return the gift and later this year or next have her give 10k to four family members?… read more
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