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  Topic: 2012 gift tax question
foots2012

Replies: 12
Views: 26420

Post image iconForum: Taxes   Posted: Mon Dec 31, 2012 12:27 pm   Subject: 2012 gift tax question
Thanks for the replies. It's puzzling to me why all these separate checks need to be written out. I mean why can't they just specify in the memo section of the check that the intent is for each part ...
  Topic: 2012 gift tax question
foots2012

Replies: 12
Views: 26420

Post image iconForum: Taxes   Posted: Mon Dec 31, 2012 12:26 am   Subject: 2012 gift tax question
Thanks Tim,

One more question. Am I right in thinking if there is a problem on the IRS end it would be on the person(s) writing the check and not on the receivers end? My father inlaw is fine wit ...
  Topic: 2012 gift tax question
foots2012

Replies: 12
Views: 26420

Post image iconForum: Taxes   Posted: Sun Dec 30, 2012 10:55 pm   Subject: 2012 gift tax question
yeah we've done the latter in the past as well. I already have the one check for 60K so was hoping can just deposit that one. They made a note in the description section. I did see that the gift sp ...
  Topic: 2012 gift tax question
foots2012

Replies: 12
Views: 26420

Post image iconForum: Taxes   Posted: Sun Dec 30, 2012 9:28 pm   Subject: 2012 gift tax question
Hi,

My inlaws gave my family a check for 60,000. I understand a person can gift another person up to 13K in 2012 without any tax implications. My question is can my inlaws give us one check for t ...
 
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