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Shama Haque
Shama Haque 2 months ago

If a parent sells stocks, Realestate and crypto I mean liquidate all the positions then give the cash as gift to the child
does parent have to pay capital gain tax of the profit that they made from selling those before giving the cash as gift to the child and child don’t have to pay tax upon receiving because the gift amount below 11.1 million cash which is less than lifetime inclusion? Pls answer it’s important. Thanks in advance

Shama Haque
Shama Haque 2 months ago

If a parent sells stocks, Realestate and crypto I mean liquidate all the positions then give the cash as gift to the child
does parent have to pay capital gain tax of the profit that they made from selling those before giving the cash as gift to the child and child don’t have to pay tax upon receiving because the gift amount below 11.1 million cash which is less than lifetime inclusion? Pls answer it’s important. Thanks in advance

Marco Escobar
Marco Escobar 2 months ago

Best explanation I've heard this far..thanks

martin fritz
martin fritz 2 months ago

Must I send all the forms with the 709 to irs or just page 1

Gene Ciliberti
Gene Ciliberti 2 months ago

Can I give the exclusionary amount gift (15,000) to a husband and wife (30,000) - total gift?

Young Lee
Young Lee 2 months ago

A question, please. My wife and I who live out of state are buying a small apartment of about $600k in LA, CA, and allow my adult daughter to live there without paying rent. Is there any federal/state gift tax here to pay? If there is, is that based on fare market rental value or something else, and may we still use exclusion amounts ($15k x 2 in 2020) for that tax (if there is)? No annual form 709 filing?

devon white
devon white 2 months ago

What if you live in a state that doesnt have " state taxes "

Angel Urena
Angel Urena 2 months ago

Does the guy who gets the money have to pay taxes?

Juan C
Juan C 2 months ago

Thanks! Great video, made everything clear to me. There is a lot of confusing information on the internet that only addresses part of the equation. (1) How will the IRS know if I gift someone, let's say, $20,000 in cash? (2) Does gift tax also apply to money gifted to charities, universities, etc?