Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Gifting money- taxes?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]Presumably when your father passes, you/he will want to keep the inheritance as a non-marital asset. If he gifts 17k to you and 17k to your partner, the money effectively becomes a shared asset since you both own half. With a little more work, he can write you a single check for 35k and file a Form 709 with the IRS. This is not difficult and will not have any negative tax implications unless his estate is worth more than ~13M. Ideally you would setup a trust for the 35k gift and have the trust hold a 35k stake in the new home. That is not really needed since in the case of a messy divorce, a forensic accountant can follow a check into a joint account and a corresponding check out for the down payment and prove that the funds are not commingled.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
