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 Gifting letter notorize form

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SBM0601
First Class
First Class


Posts: 93
Join date: 2011-08-22
Age: 56
Location: Florida

PostSubject: Gifting letter notorize form   Tue May 08, 2012 2:09 pm

AFFIDAVIT OF GIFT

My name is_______________. I am producing this affidavit to memorialize a completed gift of $________ IQD____ Iraqi Dinar note to my, __relation__________, ____name____________.

The intent of this letter is to establish the time of gift and basis of the gift for gift tax valuation purposes and to provide documentation of the transfer in the case that such documentation is ever necessary for NAME OF PERSON to exchange the gifted nonfunctional currency for other currency.

ESTABLISHING DATE

I, YOUR NAME, located in the city of_______, state of _________, on Date did gift a notes of currency of the Iraqi government with a total value of $_______ Iraqi Dinar to my ___Relationship__, Name , living in the city of _________, state of ______________ without expectation of gain for myself.

This gift was accomplished by placing said notes in the mail with the USPS, limited delivery, postage paid, and properly addressed as follows:

Name of Gifted
Street address
City, State and Zip

ESTABLISHING TRAIL OF TITLE

On the ___ day of Month, Year I exchanged $cost of Dinar United States currency for $amount of Iraqi Dinar (IQD). The above referenced Dinar was received by me in this transaction. I conducted this transaction with Name where purchased in the city of __________, state of _________ under the order # of Receipt #.

I hereby affirm and attest that the above statement is true and correct to the best of my knowledge.

This instrument was on the date thereof signed, published and declared by Your Name to be a true affidavit in our presence and in the presence of each of us, and we, at the same time.


________________________________

Your legal signature name

Witness________________________ Date ________

Witness_______________________ Date ________

STATE OF ________________________ ss.
COUNTY OF _______________________
On this day, _______________________, 20___, before me personally appeared Steven Bryan Morris, as affiant, personally known to me (or proved to me on the basis of satisfactory evidence) to be the individual whose name is subscribed to the foregoing Affidavit of Gift, and acknowledged that he[she] executed the same as his[her] voluntary act and deed for the purposes therein contained. Witness my hand and official seal.



[Seal]

____________________________, Notary Public
My commission expires: ______________________
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rick152
Super Moderator
Super Moderator


Posts: 2576
Join date: 2011-06-19
Age: 56
Location: Eastern Ohio

PostSubject: Re: Gifting letter notorize form   Tue May 08, 2012 2:30 pm

SBM0601, Thanks for bringing this for those who may need it

**************************
Love understands, Love supports, comforts and, cares for. Love forgives. Love also honors, respects and, believes
so please;
Love each other and yourself ...rick152
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SEBtopdog
Elite Member
Elite Member


Posts: 4211
Join date: 2011-07-07
Age: 66
Location: Somewhere over the rainbow

PostSubject: Re: Gifting letter notorize form   Tue May 08, 2012 3:08 pm

Good stuff there, SBM0601. I'd just like to remind people to do the gifting BEFORE the RV occurs. That will minimize the taxes owed. Because you are giving something now that has very little value, you personally won't have to pay taxes on the RV'd amount. When the RV happens, if the amount of dinar you gifted is valued at over $13,000, there is still no gift tax. I imagine there will be some tax liability on the recipient when he/she cashes out the RV'd IQD, but the overall tax liability will be less than if you waited. I already did my gifting about a year ago, and used forms very much like the ones you shared with us here. Thanks!

**************************

 
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Gifting letter notorize form

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