- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The short answer involves "facts and circumstances" and there are presumptions that apply thereto, virtually all of which are rebuttable.
Two quick examples:
1) One of your parents gives you $25,000 in cash. This is going to be presumed to be a gift.
2) Your employer gives you $25,000 in cash. This is not going to be presumed to be a gift.
‎July 15, 2022
10:01 AM
912 Views