What would you like to do?

Who pays tax on 20000 gift to another person?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Who pays tax on 20000 gift to another person?
Gift tax, when applicable, is paid by the one giving the gift,
Thanks for the feedback!
When giving a car as a gift what taxes does the person receiving the gift have to pay in Washington?

When giving a car as a gift what taxes does the person receiving the gift have to pay in Washington?

  None.   See: http://www.dol.wa.gov/vehicleregistration/usetax.html   Use tax: What if I receive a vehicle or vessel as a gift?   * If you can provide proof th

Does the recipient of a 12000 tax exempt gift pay taxes on the gift amount?

Answer   Your question says it's a tax exempt gift (for whatever reason you claim, I'll presume parent to child)...what do you think your answer should be?   But presu

Does the donee have to pay income tax on a gift?

No. If any gift tax is due, it is the responsibility of the donor. However, in extreme cases, the IRS may try to claim the gift if the donor fails to pay tax.

When giving a car as a gift what taxes does the person receiving the gift have to pay in Connecticut?

    Motor Vehicles and Vessels Received as Gifts     No sales and use tax is due on a vehicle or vessel received as a gift.   A Motor Vehicle or Vessel Gif

How can i pay my tax return to another person?

A "tax return" is a form like Form 1040 that you have filled out and sent to the government. A "tax refund" is a check that the government sends back to you because you paid t

Do you pay income tax on a gift from your parents?

  There is no income tax due on gifts, and there will be no gift tax unless the gift exceeds $12,000 per individual. (A married couple can each give $12,000 - so they coul

Do you pay Tax on car gift in Ohio?

  No. There is a limit of $12,000 annually for a single person to give away as gift. And if any tax is due on the gift, it is paid by person who makes the gift and not t

How much money can an individual person give another individual without being required to pay gift taxes or file a gift tax return?

In 2009 you can give: an unlimited amount to a US citizen spouse. $133,000 to a non-US citizen spouse. $13,000 to any other person. That is the total including all gif
When a family member gives another family member a large monetary gift who pays the gift tax?

When a family member gives another family member a large monetary gift who pays the gift tax?

  Answer     If you gave any one person gifts in 2006 that valued at more than $12,000, you must report the total gifts to the Internal Revenue Service and may h

Do you pay tax on a gift that you then sell?

  For federal income tax purposes, you would not pay tax on the gift itself, but you would pay a tax on the increase in value (its appreciation) from the time you inherit
How much money per year can a person make in a tax free gift to another person?

How much money per year can a person make in a tax free gift to another person?

For tax year 2009 or 2010 one family member can gift to any other number of family members up to $13,000 each without any reporting by either party each year. The person who