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Reply to "Parents of bride and groom - how to handle"
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[quote=Anonymous][quote=Anonymous]There is no gift rules that apply to a wedding gift. You can thank John Gotti Jr. We all know John Gotti Jr. got around 2.5-3.5 million in wedding gift money. Nice wedding at Garden City Hotel in Long Island The IRS attended to tax as income. John Gotti Jr. pushed back and won. iRS rules must be applied equally and the IRS never taxes anyone’s wedding gift money either to person giving or receiving. So he kept money [/quote] Uh this isn’t really true. I mean it’s true that Gotti supposedly raked all that in but it was in $5k pp donations, not a million dollar gift from his dad. Anyway OP, my parents did what you are doing— gave us a generous check and said we could spend as much or as little as we liked. They just wrote us a check and we paid the vendors. I mean admittedly we were living together but I don’t see why you need to worry about the logistics involved? Are you concerned it won’t get spent and will be spent by the wrong spouse? Or just it will disappear into their bank account and dribble away before the wedding? [/quote]
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