Are you suppose to claim prize money won in a gift card?
Posted December 3rd, 2008MrsMaltz asked: I won 1500 on the radio and received the prize money in gift cards from Toys R Us. I had to fill out a W-9 for the radio station. How do I handle this during tax time?xlpack
Can I deduct gifts (money) that I have paid to my children? if so how much?
Posted October 27th, 2008vedahardy1 asked: How much can I claim on gifts given to our children for a deduction on our tax return?janniaraquel
Declaring Gift taxes for parents sending money?
Posted October 19th, 2008Aditya G asked: Hello My parents have offered to pay for my last 2 years of colleges and are planning to send me $2,000 a month living expenses. I know you can receive only $10,000 as gift money in a year but how do other foreign students manage because their parents are overseas and send [...]
How much money can I receive as a gift without paying income tax?
Posted October 17th, 2008Anandam asked: I live in the US, California. My parents who live overseas want to give me some money as gift. Wondering how much I can receive without paying income tax. Also, when the money is transfered to my account do I need to fill out any form and submit to IRS?keilafabi_74
To avoid paying taxes, my dad would like to gift money to my son and I from the sale of property?
Posted August 29th, 2008irolg asked: Is this possible? My father received $80k from the sale. I forgot to advise: We are in Texas. The property was a vacant lot.naromi30
Is gifted money for my grad school taxable?
Posted April 2nd, 2008purpleduck16 asked: I was the recipient of a random act of kindness from a stranger who donated $2500 to my paypal account for use for school tuition. I tracked the person down and the donation & person is legit. It’s such a large sum so I worried when I go to taxes next year… do [...]