- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Gift Tax - If I return the gift to the donor within the same tax year, does the donor need to pay gift tax?
If donor A gave me 60k (above gift exemption) and later in the year I return the 60k to the donor, do donor A need to pay gift tax? or worst I would have to pay gift tax too since IRS consider both transaction separately.
My question is, does IRA look at net gift amount or per transaction when considering gift tax?
Topics:
March 5, 2024
9:43 AM