Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

customerserviceguy

(25,406 posts)

4. That wouldn't show up on an income tax return

Reply to spartan61 (Reply #2)

Thu Jan 19, 2012, 10:41 PM

Jan 2012

There's a separate gift tax return that you fill out for that. And there is a unified credit that each person has, which can be drawn down before gift tax is actually paid, which reduces how much you can pass tax free at death.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

4 replies

= new reply since forum marked as read

Highlight:

Tin Foil Hat Time - Mittster taxes/voting [View all] rufus dog Jan 2012 OP

good question Motown_Johnny Jan 2012 #1

And what about the gift taxes on the spartan61 Jan 2012 #2

true, but the 'Pukes will give him a pass on that rufus dog Jan 2012 #3

That wouldn't show up on an income tax return customerserviceguy Jan 2012 #4