Alright - I am a Canadian, and realize that you are probably American; but I think I know the answer to your question: no. It certainly would not be claimable here in Canada. Now, if you gave a car to, for example, "Youth for Christ", and they gave you a charitable receipt, indicating a reasonable amount for fair market value of the vehicle, then you could claim the amount on the receipt, as a charitable donation.
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.
Get a friend who also has Mystery Gift and do it. I think that's how.
A charitable gift annuity involves a contract between a donor and charity. The donor gives property or cash in exchange for a tax deduction, When the donor dies the charity keeps the gift.
donor
Federal gift taxes are not paid by the recipient. However, in the rare case where the donor does not have the resources to pay gift taxes they may owe, the IRS might try to recover some or all of the gift from the recipient. The donor may owe a gift tax depending on the size of the gift and depending on what other gifts the donor has given.
Inter vivos means ' between the living'. It refers to a gift made by a donor during life. A gift made after a person's death by Will is called a testamentary gift.Inter vivos means ' between the living'. It refers to a gift made by a donor during life. A gift made after a person's death by Will is called a testamentary gift.Inter vivos means ' between the living'. It refers to a gift made by a donor during life. A gift made after a person's death by Will is called a testamentary gift.Inter vivos means ' between the living'. It refers to a gift made by a donor during life. A gift made after a person's death by Will is called a testamentary gift.
A "donor"
How you claim a gift will depend on what site the gift is from and what their policies are. Any legitimate free gift will be accompanied by clear instructions on how to claim it; however, many unsolicited free gift offers are scams. Asking for personal financial information or money in order for you to claim the gift are signs of scams.
How you claim a gift will depend on what site the gift is from and what their policies are. Any legitimate free gift will be accompanied by clear instructions on how to claim it; however, many unsolicited free gift offers are scams. Asking for personal financial information or money in order for you to claim the gift are signs of scams.
A donee is the recipient or beneficiary of a gift, donation, or transfer of property or assets from a donor. They are the individual or entity who receives the gift or benefit from the transfer.
The Uniform Anatomical Gift Act allows the donation of organs at no cost to the donor or the donor's family. The same is true for tissue donors.
If the fair market value (FMV) of the stock was greater than the donor's adjusted basis at the time of the gift, your basis is the donor's adjusted basis plus any gift taxes paid at the time of the gift. http://www.irs.gov/faqs/faq-kw77.html