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Do children living in US have to pay tax on gift from parents living abroad?
Wiki User
∙ 12y ago
We live because that is why we are here on earth but i don't understand why because life is a back stabber
As long as it isn't from a foreign trust or partnership...and some other convoluted things that were used to evade taxes as part of a scheme..NO.
Wiki User
∙ 12y ago
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Is there a gift tax on money given to adult children by their parents?
No
On which special day do children receive gifts?
On their birthdays, gift giving holidays (Christmas, New Year, etc.). After you have returned from a long trip abroad.
What Type partnership lets parents gift assets to their children at highly discounted rates?
general
Can a mother make a claim on her adult child's property if she has contributed to it financially as a gift?
No. A gift doesn't give her rights in the property.If the adult child dies her spouse and children will be her legal heirs at law. Her parents would be her legal heirs only if she had no spouse or children or will.No. A gift doesn't give her rights in the property.If the adult child dies her spouse and children will be her legal heirs at law. Her parents would be her legal heirs only if she had no spouse or children or will.No. A gift doesn't give her rights in the property.If the adult child dies her spouse and children will be her legal heirs at law. Her parents would be her legal heirs only if she had no spouse or children or will.No. A gift doesn't give her rights in the property.If the adult child dies her spouse and children will be her legal heirs at law. Her parents would be her legal heirs only if she had no spouse or children or will.
Why are some children born naturally athletic?
Some children are born that way because their parents DNA or chromosomes or its just a special gift. :)
Can you gift imvu prepaid gift cards abroad?
An IMVU prepaid card can be gifted to many countries abroad. The actual limitations of these gifts vary specifically based on the country in which they are redeemed.
What do parents do to their children when they hate them?
Parents rarely hate their own children. Their love is unconditional. Even if they hate, they would have hatred because of some genuine reason.
Why do children have a natural gift of accepting people?
well, kids accept people ,especially parents because they know that they will be with them forever (you could consider it a natural gift) :D
Is gift received from son in law from abroad to India is taxable?
yes
Is jewelery a good gift to give to children between the ages 6 and 10?
Jewelery could be a good gift depending on the personality of the children and parents. Young girls might truly cherish a ring or necklace that is age appropriate.
Can parents gift 150000 or 50 percent of cost of home to children to buy a home?
This will depend on the loan program. In the case of FHA you can still receive the gift of equity from a relative.
What do parents give children for engagement gift?
If there is an engagement party then yes, the parents would give a gift. Many couples get engaged and don't have an engagement party and in this case it is not necessary for the parents to give a gift.
