0
What else can I help you with?
Do you have to pay taxes on a 12000 gift?
Yes.
If you give a gift of 12000 for tuition to a nondependent can you take the 12000 off of your gross income BEFORE you calculate your income taxes?
No...not deductible..if a dependent or not. It's a gift....as such, much morte than that and YOU could owe gift tax.
Does an adult daughter have to pay tax on a 12000 gift from her parent?
If it is a gift from you to her, and YOU paid for it, if a tax is applied, you will pay it.
Can I purchase I bonds for my spouse?
Yes, you can purchase I bonds for your spouse as a gift or as a joint ownership.
What is a gift that your spouse gave you that you cherish the most?
their love
What was the 1995 gift tax exclusion?
US Citizen spouse: unlimited. Non-citizen spouse: $100,000 Others: $10,000
What is 11632 rounded to the nearest thousand?
12000
Can a wedding gift be ask back after 7 years of marriage during a divorce?
No. I am assuming that you are asking about a gift given to you by your spouse. In community property states, items are split up upon a divorce with each side getting half. Gifts between one spouse and another are an exception to this and you are entitled to keep the gift.Gifts can be property that was given to one spouse by the other, or property given to a spouse from anyone else. It will only be considered a gift, however, if it is clear from the actions of the person giving the property that they intended to give a gift to that particular person. If it is a gift, it will be separate property.
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.
In California if a client gives one spouse a gift of money in appreciation for that spouses work on behalf of the client is that money considered community property?
No. A gift is a gift.
What is then limit on non taxable gifts to a non us citizen spouse in 2016?
In 2016, the annual exclusion limit for non-taxable gifts to a non-U.S. citizen spouse was $148,000. This means that a U.S. citizen could gift up to this amount without incurring gift tax. Any amount above this limit would require the filing of a gift tax return and could be subject to gift tax. Additionally, gifts to a spouse can also qualify for the unlimited marital deduction, but this only applies if the spouse is a U.S. citizen.
Does the 12000 gift tax exemption apply only to blood kin?
No, it applies to anyone other than a tax-exempt charity.
