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Reply to "Do taxes have to be paid by the recipient on large non-monetary gifts? "
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[quote=Anonymous] No can tell if you are a dog, or a lawyer, on the internet. A true gift is not subject to income tax on the recipient. It would affect the giver's lifetime gift/estate tax exclusion but that generally does not have any effect on the recipient. Of course, there are very few, if any, times an unrelated person will simply give you a very valuable diamond. If the diamond is compensation of some kind for something you did (or didn't) do, then it would be income to the recipient.[/quote]
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