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Old 02-26-2007, 01:04 PM
Corpsebean Corpsebean is offline
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Join Date: Sep 2005
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Posts: 906
Default Re: Gift tax question

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http://www.irs.gov/businesses/small/article/0,,id=98968,00.html

http://www.irs.gov/businesses/small/article/0,,id=164872,00.html

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A. Your links don't work. Use the "URL" link under "Instant UBB Code" when you are creating or editing your message.

B. The gift tax applies to US citizens who give money to others. It does not apply when a US citizen receives it.

-Tom

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100% sure on that? And is there a limit?

Hypothetically if I received 100K in 2006 from someone, I don't have to do ANYTHING about it in regards to the IRS.
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