Is an engagement ring a gift and should be taxed on for gift tax? - gift for stroke victims
When my wife and I participate Beame March 2007, gave him a ring of great value. We have had our wedding in early May 2007 and gave him some money for his own bank account. I asked myself if I have to pay taxes for donations of the above?
Tuesday, January 12, 2010
Gift For Stroke Victims Is An Engagement Ring A Gift And Should Be Taxed On For Gift Tax?
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3 comments:
You do not pay taxes on donations, gifts or report of a spouse, so that the money we gave him when she is married, is not reported.
The ring is a gift and yet was not then married. You can declare donations of up to 12,000 dollars in value without them. Unless the ring was worth more than that, it's no problem.
The money that is given after marrying a transfer between spouses, not passive.
The engagement ring is not a gratuitous transfer of property, as it is subordinate to the promise of marriage. Therefore, it is not a gift from the definition of the IRS and is not taxable.
If the ring is less than $ 12,000, then no, you do not owe gift tax on this topic.
If the ring is more than $ 12,000 (donors as little as you) look at the ring "ownership" until she marries. Then you can claim their property, because the spouse of a free gift.
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