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/biz/ - Business & Finance

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21202760 No.21202760 [Reply] [Original]

If you're given money, do you have to file taxes for it?

>> No.21202836

Actually no. It's considered a gift and I think there's a spot on a tax form that specifically mentions "goft"

>> No.21202882
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21202882

>>21202836
Really??

>> No.21203659

>>21202760
You're going to jail!

>> No.21203717

not unless it’s over $15,000 in burger land

>> No.21204153

>>21203717
Yeah, it was over $15k.

>> No.21204227
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21204227

pay ur taxs fren

>> No.21204271

>>21204153
The giver is responsible for taxes in the us. You just need to state it was a gift if asked

>> No.21204291

>>21202836
there is a limit to this. also i just remembered that i forgot to declare a $15k gift given to me by my aunt. am i going to get audited now?

>> No.21204320

>>21204271
oh okay cool

>> No.21204545

>>21202760
Not in Canada, so long as it was a gift and not remuneration for goods or services rendered.

>> No.21205218

i believe its 25k in us.

>> No.21205280

Taxing gifts should be a crime

>> No.21205548

There’s ways around it. Split the gift between dec/jan so it’s on two tax years. Also if your married and/or have kids, the gift limit is for each of them.