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Post by dinarorama on Mon Aug 01, 2011 1:56 am

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.

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Post by mustlovedogs on Mon Aug 01, 2011 2:16 am

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.

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Post by dinarorama on Mon Aug 01, 2011 2:29 am

Thanks for the info mustlovedogs, didn't know the current limit was 13G

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Post by Cardiac99 on Mon Aug 01, 2011 4:06 pm

Do the Gift Letters have to be notarized?
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