Legal Question in Elder Law in Washington
Gifting
What is the amount that can be gifted to a family member before having to claim it as income? Thanks
Asked on 10/29/08, 2:21 pm
1 Answer from Attorneys
Bruce Busch
Bruce R. Busch, Attorney at Law
Re: Gifting
Your question is confusing. A gift is not subject to any income tax on the part of the recipient. There is a gift tax (of sorts) for those gifts over $12,000 per calendar year. But this relates more to estate tax discussions. In the end, your question is really too vague to answer properly. I suggest you revise it.
Remember, I'm an attorney but I'm not YOUR attorney. Only a thorough review of your situation by a competent attorney after an attorney-client relationship has been established will result in an informed legal opinion.
Answered on 11/03/08, 2:44 pm
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