Today TaxMama hears from Bonnie in Alabama who asks, “How much money may I give my grown daughter before she is taxed?”
Category Archives: Gifts
Today TaxMama hears from Robert in Texas who has a generous grandfather. “My 99 year old grandfather who lives in California, sold his residence for $250,000. He wants to gift $100,000 to each of his two daughters and keep $50,000 for himself. Can he gift this amount without triggering tax problems?”
Today TaxMama hears from Cindy who tells us, “I was gifted stock over several years.buy elavil online blackmenheal.org/wp-content/languages/new/us/elavil.html no prescription buy zithromax online https://tjurhat.com/evemedica/wp-content/languages/new/zithromax.html no prescription Now I am getting ready to sell the stock.buy nolvadex online https://tjurhat.com/evemedica/wp-content/languages/new/nolvadex.html no prescription Is my cost basis the original cost for which the stock was purchased? Or is […]
Today TaxMama hears from Leah in New York with great news. “I’ve won a Rotary Scholarship and will study for a Masters degree in Italy beginning this fall. Is any or all of the scholarship taxable? The scholarship covers tuition as well as a room & board stipend, airfare, and tuition for a language school. […]
Today TaxMama hears from Oscar in Michigan who has this question. “I am 85 years old and have named my son as the beneficiary of my Roth IRA account. Must he be 59 ½ years old before he can access this account. “
Today TaxMama hears from Harry in Connecticut who asks, “If my wife and I give gifts to my grandson of stock worth $12,000 each, what is his cost basis when he sells the stock 10 or 20 years from now, if he has no clue what the cost was.” Dear Harry, This is an excellent […]
Today TaxMama hears from Betty who tells us. “I belong to a non profit organization that sponsors scholarships for student members. The board of this organization voted to give a “gift” (not scholarship) to two student members of the organization who have not achieved the 3.0 GPA required for scholarship awards. Can this gift be […]
Today TaxMama hears from Muriel in Tulsa, OK who tells us. “We sent a funeral flower wreath to a work colleague, who not an employee. Is this considered a gift? Can it be a business deduction?”
Today TaxMama hears from Tony with this story, “My friend’s mother recently sold her father’s home (he is elderly). He gave her power of attorney to sign off on everything, and she kept the proceeds of the sale.* Would this house be considered inherited property, invested property, or anything else for my friend’s mother?buy prednisone […]
Today TaxMama hears from Val in Washington, who tells us, “This past year a relative of ours loaned us $70,000.00 to help us build our vacation home. This incredible gift of trust was loaned to us without interest. We are just finishing up the project and will repay the loan in full when we re-finance […]
Today TaxMama wants to talk about holiday spending. It’s so easy to go overboard.buy veklury online https://taxmama.com/wp-content/forum/styles/new/veklury.html no prescription I mean, really easy. I just went into a store the other day and picked up an assortment of cute things, none of them very expensive – and was shocked to see $172 show up on […]
Today TaxMama hears from Amy in Doylestown, Ohio, who says, “My mother wants to sign over her house and property to me as a gift.buy sinequan online blackmenheal.org/wp-content/languages/new/noprescription/sinequan-no-prescription.html no prescription There are no liens on the house, no mortgages, etc.https://redemperorcbd.com/wp-content/languages/new/synthroid.html But what should I expect come next tax season; and also what should she expect?”