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Gifting Parameters...

GIVINGisGREAT

By GIVINGisGREAT,
in Tax Discussion

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GIVINGisGREAT Newbie

GIVINGisGREAT

Posted
Posted

Hello all...

I know I have read this before but am having a hard time finding it today...I know there is a $13,000 per year limit on gifting, and I have done gift letters for my family...if I gift say 1 million Dinar, it's valued at $1260 today but RV'S at $1 and thus is then valued at $1 Million Dollars...what are the tax consequences. Thanks for the info.

Brian

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The Machine Newbie

The Machine

Posted
Posted

Hello all...

I know I have read this before but am having a hard time finding it today...I know there is a $13,000 per year limit on gifting, and I have done gift letters for my family...if I gift say 1 million Dinar, it's valued at $1260 today but RV'S at $1 and thus is then valued at $1 Million Dollars...what are the tax consequences. Thanks for the info.

Brian

Good question ...... :huh:

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