RacknarockGod
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Thank you again!Since "banks are required to report cash deposits of $10,000 or more to the IRS", how would IRS interpret this deposit? Would they assume that i...
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Thank you for this information.Is it correct that the $100,000 is for the year? In other words, if another gift is given in the following year, as long as it is...
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Thank you.But, IRS would see the deposit/transfer of the money into my wife bank account. Wouldn't they be wondering and perhaps audit us in the future?
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Thank you.But it is not more than $100,000.Would we need to pay Federal Tax or State Tax for the gift?
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I just remember that her sister is not American citizen and she doesn't live in US so Form 709 wouldn't apply to her.
Activity Feed for RacknarockGod
- Posted Standard Deduction VS Itemized Deduction on Deductions & credits. March 8, 2023 6:09 AM
- Posted Re: If your parents are not US citizens or residents of the U... on Deductions & credits. December 22, 2022 9:07 AM
- Posted Re: If your parents are not US citizens or residents of the U... on Deductions & credits. December 22, 2022 6:56 AM
- Posted Re: Receiving Gift of $100,000 on State tax filing. December 21, 2022 6:08 PM
- Posted Re: Receiving Gift of $100,000 on State tax filing. December 21, 2022 4:37 PM
- Posted Re: Receiving Gift of $100,000 on State tax filing. December 21, 2022 1:09 PM
- Posted Receiving Gift of $100,000 on State tax filing. December 21, 2022 12:52 PM
- Posted Re: Would Personal Loan be Taxable? on Get your taxes done using TurboTax. October 24, 2022 12:43 PM
- Posted Re: Would Personal Load be Taxable? on Get your taxes done using TurboTax. October 24, 2022 12:14 PM
- Posted Would Personal Load be Taxable? on Get your taxes done using TurboTax. October 20, 2022 11:32 AM
- Posted Should I be submitting all forms that are printed out from TT state tax return? Do I also need to include the state W2 form as well as the cover sheet doesn't state that? on Get your taxes done using TurboTax. February 25, 2022 9:07 AM
- Posted Re: How to deduct my 529 payment? on Education. February 4, 2022 5:12 PM
- Posted Re: How to deduct my 529 payment? on Education. February 4, 2022 3:36 PM
- Posted How to deduct my 529 payment? on Education. February 4, 2022 1:43 PM