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Topic: What is considered a gift? |
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Replies: 1
Views: 40
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Forum: Welcome to ForumsLand.com - Free forum hosting service Posted: Thu Jul 18, 2013 4:50 am Subject: What is considered a gift? |
Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return. |
Topic: Exclusion |
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Replies: 1
Views: 37
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Forum: Welcome to ForumsLand.com - Free forum hosting service Posted: Thu Jul 18, 2013 4:49 am Subject: Exclusion |
Gifts that are not more than the annual exclusion for the calendar year.
Tuition or medical expenses you pay for someone (the educational and medical exclusions).
Gifts to your spouse.
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Topic: Addition made |
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Replies: 1
Views: 40
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Forum: Welcome to ForumsLand.com - Free forum hosting service Posted: Thu Jul 18, 2013 4:49 am Subject: Addition made |
In addition to this, gifts to qualifying charities are deductible from the value of the gift(s) made. |
Topic: What can be excluded from gifts? |
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Replies: 1
Views: 44
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Forum: Welcome to ForumsLand.com - Free forum hosting service Posted: Thu Jul 18, 2013 4:48 am Subject: What can be excluded from gifts? |
The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts. |
Topic: Who pays the gift tax? |
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Replies: 0
Views: 27
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Forum: Welcome to ForumsLand.com - Free forum hosting service Posted: Thu Jul 18, 2013 4:48 am Subject: Who pays the gift tax? |
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this t ... |
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