Replies

To: Fresh Wind; SeekAndFind

>> “Who’s going to pay his real estate taxes on that free house? Who’s going to pay the income tax on that free house?” <<

.
Breaking Wind again, huh?

There is no income tax for the recipient of a gift.

3 posted on 09/19/2013 9:13:12 AM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)

To: editor-surveyor

In MA the Gift Tax Exclusion is called at $14,000.

4 posted on 09/19/2013 9:16:21 AM PDT by massgopguy (I owe everything to George Bailey)

To: editor-surveyor; Fresh Wind

RE: There is no income tax for the recipient of a gift.

Yes, but with property, comes additional problems — Property Taxes, Maintenance, electricity and water bills...

What this man needs is a JOB. This one time gift is going to cause him all sorts of additional problems if he does not have income.

5 posted on 09/19/2013 9:18:02 AM PDT by SeekAndFind

To: editor-surveyor

There is no income tax for the recipient of a gift.

Read the tax code. Gift level for feds is $11,000, I believe. I'm sure the state will take a bite.

15 posted on 09/19/2013 9:28:07 AM PDT by raybbr (I weep over my sons' future in this Godforsaken country.)

To: editor-surveyor

There is no income tax for the recipient of a gift....Wrong.

26 posted on 09/19/2013 9:50:36 AM PDT by Safetgiver ( Islam makes barbarism look genteel.)

To: editor-surveyor

That’s going to come as welcome news to everybody who’s ever had to pay the Gift Tax.

28 posted on 09/19/2013 10:10:05 AM PDT by Cyber Liberty (It's hard to accept the truth when the lies were exactly what you wanted to hear.)

To: editor-surveyor

Oh, it’s you again, the ****** who thinks he’s better than all the other FReepers.

Go away.

29 posted on 09/19/2013 10:18:05 AM PDT by Fresh Wind (The last remnants of the Old Republic have been swept away.)

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