Gift tax on a million/over a million?

Discussion in 'Individuals' started by Porsche23, Jul 25, 2011.

  1. Porsche23

    Porsche23

    Joined:
    Jul 25, 2011
    Messages:
    2
    This is a somewhat hypothetical question.

    But if someone were to give someone else a one time gift of 1 million or 1.25 million.

    How much would the sender be taxed and how much would the receive be taxed in BOTH cases?
     
    Porsche23, Jul 25, 2011
    #1
    1. Advertisements

  2. Porsche23

    Porsche23

    Joined:
    Jul 25, 2011
    Messages:
    2
    also would check/cash matter much?
     
    Porsche23, Jul 26, 2011
    #2
    1. Advertisements

  3. Porsche23

    megneton

    Joined:
    Aug 25, 2011
    Messages:
    9
    the maximum amount it doesnt matter
     
    megneton, Aug 25, 2011
    #3
  4. Porsche23

    og954

    Joined:
    Aug 16, 2011
    Messages:
    28
    Last time I checked you have to pay taxes on any gift over 13,000. I am not sure if there have been changes, maybe someone else can chime in.
     
    og954, Aug 25, 2011
    #4
    1. Advertisements

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. ALQAFELLH Ltd.  Translation & IT sevices

    Add to your website the Middle-East language,spoken by over than 350 million!!

    ALQAFELLH Ltd. Translation & IT sevices, Jun 6, 2006, in forum: UK Accountancy
    Replies:
    0
    Views:
    322
    ALQAFELLH Ltd. Translation & IT sevices
    Jun 6, 2006
  2. TaxMatters
    Replies:
    11
    Views:
    411
    Victor Roberts
    Mar 26, 2006
  3. dvdpleasures@yahoo.com
    Replies:
    10
    Views:
    712
    phillysleuth@verizon.net
    Dec 1, 2005
  4. Rob
    Replies:
    1
    Views:
    332
    edgruberman
    Dec 26, 2004
  5. RG
    Replies:
    3
    Views:
    240
    Andy Pandy
    Oct 6, 2005
Loading...

Share This Page