Down payment amounts above $19,000 and received as a gift must be reported on a gift tax return by the person making the gift—not the beneficiary. But that doesn't mean the donor will pay taxes. "The ...

In some situations, such as the gift of a home, the recipient could be facing a significant capital gains tax if they sell the property. But if you've inherited a house (instead of receiving it as ...

Taxpayers should give consideration to the form in which they make charitable donations. They might deliver more benefits to ...

The federal gift tax applies when you transfer money or property to someone else without receiving something of equal value in return. Gift tax rates range from 18% to 40% based on the size of the ...

It partially overlaps with the estate tax, which is where the “hybrid” part comes in. The IRS defines a gift as “the transfer of property by one individual to another while receiving nothing ...

The author writes "This year, estate planning practitioners have significant opportunities for estate tax savings for our high-net-worth clients. Time is critical though, and there are some traps for ...

The federal estate and gift tax exemption changes from year to year ... made during an individual’s lifetime and the value of property transferred at death to someone other than a spouse ...

The author states "Taxpayers are always responsible for the accuracy of information reported on their tax returns. The IRS ...

The family home is likely to be one of your most valuable assets. This begs the question: 'Can I gift it to my children now?

Navigating the complexities of tax exemptions under Section 54F can be tricky, especially for homeowners looking to purchase ...