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Do i have to pay gift tax if my mother gave me 40,000.00?

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  • Do i have to pay gift tax if my mother gave me 40,000.00?


Answers

Someone gave me a large sum of money as a gift. Do I ... It will have to be ... When someone gives you a large amount of money, you do not pay gift tax.
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Positive: 52 %
Your mother should file Form 709, but she will likely not owe any tax on the gift unless she used up her lifetime exclusion amount (somewhat over $5 million).
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Positive: 49 %

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Do you have to pay tax ifyou gift a vehicle to your ... How much money can a parent gift a child in one year? My son gave me a new car registed in alberta ...
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Positive: 52 %
... if my parent in laws sell me a house for $1 ... this and other Tax questions on JustAnswer ... the property in 1945 do I pay taxes on $60,000 ...
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Positive: 47 %
Does Canada have death taxes or inheritance taxes? ... Do you have to pay tax ... My father now wants to make an outright gift of this home to me and my ...
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Positive: 33 %
... Can I just give $10,000.00 to my minor grandchildren without worrying about the gift tax? ... Do I have to use my money to pay ... my boss gave me a ...
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Positive: 10 %

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