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 $24,000 car to son—Gift tax exclusion "
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][quote=Anonymous][quote=Anonymous]OP here. Wow, all these responses! I reached out to my accountant (probably should have done that first). He said we can simply elect to split the gift (of the car) between my husband and me. There is a form 709 we would complete to do that. It then would be considered a gift of $12,000 from me and the same from my husband. It is below the annual gift exclusion amount so does not count against the lifetime exclusion. This will work for us and we don’t need to add my husband to the title. I will be careful about sales tax possibilities and look into that. [/quote] Isn't Form 709 what you were trying to avoid filing in in the first place?[/quote] LOL. Let’s let it go at this point.[/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
