Profile picture for lisadawn3

What are the tax liabilities on a gift of equity for the donor? I know there is nothing 4 the donee.

  • July 14 2009 - Oceanview
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Answers (2)

Profile picture for lisadawn3
Yes, I looked at the IRS site but it seemed to say that, if it was under the lifetime gift maximum of $350K plus some, that there were no taxes on the gift but you had to fill out a gift tax return, but then the gift tax return instructions led me to believe there were taxes, so I just wondered if anyone has done this before and if there is anything we need to know? I find it surprising the government isn't trying to hone in that more.
  • July 14 2009
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Profile picture for wetdawgs
Here is the IRS link to the gift tax information.
  • July 14 2009
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