Dear Quentin, I’m going to give my daughter my house. I could either just give it to her directly, or give her the cash and ...

Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules.

Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...

I sometimes receive a call from a client inquiring about the rules on giving gifts to friends and family. They want to find out if there are any tax deductions and tax implications for gifting. There ...

Most taxpayers, from individuals to married couples, are unfamiliar with the concept of the gift tax. The government assesses this tax on certain transfers of money or other assets from one person to ...

Gifting Bitcoin in 2025? Learn how the IRS treats crypto gifts, what counts toward the $19,000 exclusion, when to file Form ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. The federal estate and gift tax exemption permits individuals to transfer a certain amount ...

The Tax Court held that a taxpayer’s 2006 gift tax return and supporting documentation constituted adequate disclosure and began the statute of limitation, despite the gift’s being deemed complete in ...

My husband's parents bought lake property 48 years ago for approximately $15,000. Today it is valued at about $600,000. His mother is still living but is in a nursing home and does not use the cottage ...

With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...