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Does an adult daughter have to pay tax on a 12000 gift from her parent?
Wiki User
∙ 13y ago
If it is a gift from you to her, and YOU paid for it, if a tax is applied, you will pay it.
Wiki User
∙ 13y ago
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What tax is payable on a gift of 10000 from a parent to an adult child?
no tax if that is the only gift of that calendar year
Can a Parent of an Adult file civil suit against an minor for gifts the adult gave the minor?
No. You play no part in the adult giving a gift to the minor.
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.
In regards to the 10000 parent to Adult child yearly gift - is the parent allowed to gift more than one child per year 10000.00 each?
First it's 12,000. Second, per parent - (2 parents = 24K yr) Per child - as many as you've got.
Can a parent give a monetary gift of 13000 cash to and adult child and deduct if from their gross income?
No deduction on your income tax return for gifts to anyone.
Can you gift 12000 to your spouse?
Sure - you can actually gift an unlimited amount to your spouse without any gift tax consequences..the 12K (13 K for 2009) limit is for gifts to others.
Can a parent give a child money without the child paying any taxes?
Generally, if a parent gives a child money (or any other gift) that is below the annual gift tax exclusion amount, which is $15,000 per year in 2021, then the child does not need to pay any taxes on that gift. However, if the gift exceeds this amount, the parent may need to file a gift tax return and potentially pay gift taxes, although there are lifetime gift tax exemptions that can help minimize or eliminate this tax burden. It is advisable to consult with a tax professional for specific advice related to individual circumstances.
Will medicaid require pay back of ten thousand dollar gift from parent to adult child which was made prior to entering nursing home?
If the gift was given less than 60 months prior to entry into the nursing home, most likely.
Is a gift from child to parent treated the same as a gift from parent to child?
Parents have about the same enthusiasm when they get a present from there kids as the kids when they get a present from their parents.
What is a good Christmas gift for your daughter's boyfriend?
Difending on Daughter's age
Can an ex take back a gift given by his parent?
can an ex take a gift back
