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re: Best Approach to Accepting Large Cash Gift? What should I do with it?
Posted on 2/8/16 at 2:10 pm to lsupride87
Posted on 2/8/16 at 2:10 pm to lsupride87
quote:GET YOU SOME. You are being a typical attorney though
The person who makes the gift is the one who is responsible for paying any gift tax that may be due and reporting the gift to the IRS on a gift tax return - IRS Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, and the applicable state gift tax return (if any).
Yall love to argue the tax code with CPAs 
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