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12-26-2006, 08:24 PM
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#1 |
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Confirmed User
Join Date: Nov 2003
Location: 237 619 975
Posts: 8,944
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Tax question, how does a $10,000 gift exemption work?
Am I allowed to recieve a $10,000 gift from two different people in 1 year and both be tax exempt?
Can I give $10,000 to two different people in 1 year and both be tax exempt? Feel free to explain if you have a good understanding of this. Thanks in advance.
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12-26-2006, 09:29 PM
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#2 |
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Registered User
Join Date: Dec 2006
Posts: 91
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Sorry not sure, send me $5000 and I will sort it ;)
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ICQ: 379-198-665 If you can't beat'em, join'em. |
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12-26-2006, 09:53 PM
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#3 |
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<&(©¿©)&>
Industry Role:
Join Date: Jul 2002
Location: Chicago
Posts: 47,882
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get an accountant or google the answers, all you will get here is bullshit half-true answers....
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Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager  Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager |
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12-26-2006, 09:56 PM
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#4 |
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in a van by the river
Industry Role:
Join Date: May 2003
Posts: 76,806
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I think it's a one time gift per year.. but not 100%
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In November, you can vote for America's next president or its first dictator. |
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12-26-2006, 10:33 PM
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#5 |
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Confirmed User
Join Date: Jul 2005
Location: USA, Georgia
Posts: 1,246
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you can get a cash gift and not report it.
giving a gift is a bit different... i think its up to 12k in 2006 that you can give non taxable per person. a spouse, political group, etc can be more than 12k go to irs.gov and search 'gift tax'
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Hi-Quality Encoding - Bulk Orders - On Time! http://bitaudiovideo.com icq 50476697 - aim n3r0xXx |
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