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Message
re: Best Approach to Accepting Large Cash Gift? What should I do with it?
Posted on 2/8/16 at 2:07 pm to lsupride87
Posted on 2/8/16 at 2:07 pm to lsupride87
quote:
He was right
You would also be incorrect. Don't feel like citing the code.
1
Posted on 2/8/16 at 2:08 pm to TheOcean
quote:You are wrong. 100%. The donor pays the tax. Please argue this with me
You would also be incorrect. Don't feel like citing the code.
quote:
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.
IRS.GOV
LINK
This post was edited on 2/8/16 at 2:09 pm
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