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Dinar gifting
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Dinar gifting
Does anyone know if we gift dinar after the RV will the IRS ALSO charge us a gift tax? If over 10G I would think so.
If we document gifting prior to the RV can we sidestep "gift tax"?....And does the recipient of the gift have to pay capital gains on a gift?
I would think a recipient would not need to pay ordinary income tax on a gift. Thanks.
If we document gifting prior to the RV can we sidestep "gift tax"?....And does the recipient of the gift have to pay capital gains on a gift?
I would think a recipient would not need to pay ordinary income tax on a gift. Thanks.
dinarorama- New Member
- Posts : 3
Join date : 2011-08-01
gifting
Gifting pre-RV is the ideal way to go, with a gifting letter. Once you cash in you will pay some sort of tax on that cashed in money, then you can gift up to $13,000 per year in the USA to someone without them having to pay a tax on it. If you gift pre rv then neither of you will be stuck with a tax, unless their post Rv value is greater than that $13,000, then they only pay tax on anything over that. At least that is my understanding.
mustlovedogs- Active Member
- Posts : 75
Join date : 2011-06-18
Re: Dinar gifting
Thanks for the info mustlovedogs, didn't know the current limit was 13G
dinarorama- New Member
- Posts : 3
Join date : 2011-08-01
Re: Dinar gifting
Do the Gift Letters have to be notarized?
Cardiac99- Elite Member
- Posts : 552
Join date : 2011-07-06
Age : 61
Location : Choctaw, Oklahoma
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