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You can give as much as your heart desires. It's your money, you can do with it what you want. (Don't send it to Cuba, Iran, or North Korea.)
If you are wondering what the gift tax exclusion for 2009 is, it is
$133,000 to a non-resident alien spouse and $13,000 to anyone else who is not a spouse. The maximum amount that a married couple can gift to each individual is $26,000 (2 x $13,000.)
The entire gift to a charity or political organization is exempt. Payments of tuition (not room and board) and medical expenses are completely exempt if made directly to an educational institution or medical services provider. Payments to a US Citizen or resident alien spouse are also completely exempt.
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Is the recipient responsible for monetary gift taxes?
No, the one that gives it is
What percentage is the IRS monetary gift tax?
45 percent
What is the 2009 tax exempt gift amount?
For 2009. Citizen spouse: unlimited. Non-citizen spouse: $133,000 All others: $13,000
Who can accept a tax free monetary gift?
anyone can accept a tax free monetary gift if it is under 10,000 above that and you have to pay taxes on the gift. this is usually done when older relatives want to help out young nieces and nephews etc.
Can an aunt give her nephew a monetary tax free gift?
As long as it is under the amount that requires a Gift Tax Return to be filed. This would depend on the year and form of the gift being given.
What does monetary mean?
it means a gift of money from one person to another.
What is a customary monetary gift amount for a 60th birthday party?
Any monetary gift is based upon what you think is right and what your budget can afford.
What is a customary monetary gift for wedding?
Whatever amount you can afford to give.
What is the monetary amount you can give a soldier as a gift?
In most jurisdictions you may give a soldier, or any other person, any amount you wish as a gift.
What is maximum gift amount without paying taxes for 2011?
The maximum gift you can give is $13,000 to any one individual. The amount goes up to $26,000 if you are married. Hope this helps.
How much is the maximum amount of cash a person can place inside a visa gift card?
The maximum amount of cash you can place on a Visa gift card depends on the provider you purchase it from. Through the research it seems that the maximum you can place is $2,999.
When giving a car as a gift what is the maximum amount?
poop!!!!!!!!!!!!!!!!!!!!!!! that is the max amount! hahahahahahahahahhahahahahhhhhhhhhhhhhhhhhhhhhhh lololololololol omg this i sfunny as poop
What is a customary monetary gift amount for college graduation?
What a selfish and foolish question. They already received it most likely!
What is the cost of koohinoor diamond in rupee?
Since the Koohinoor Diamond has not changed hands for money -- rather, it is classically a spoil of war or gift of occupation -- no monetary amount can be assigned to it.
Is a 6000 Gift taxable?
Technically, it is. However, if the total gift amount in one year amounts to less than $13,000 (after January 1, 2009), the annual exclusion applies to the gift.
Can you gift 12000 to your spouse?
Sure - you can actually gift an unlimited amount to your spouse without any gift tax consequences..the 12K (13 K for 2009) limit is for gifts to others.
Is the recipient responsible for monetary gift taxes?
No, the one that gives it is
