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REPORT ABUSIVE REPLY
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Message Subject
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Does anyone know how to give 50,000.00 to a friend without them having to pay a gift tax??
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Poster Handle
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Magnison |
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Post Content
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There is no gift tax that a recipient pays. The giver has to fill out a form for any gift over $16,000 ($32,000 if your friend is married).
The excess contribution is counted against your estate, after you die, if the estate is worth more than $12 million dollars.
Quoting: JFN111 Hi. Thanks for the reply. Can you help me know how to search specifically for this online? I've not heard of this scenario but if accurate would be fine with me.
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