If my wife and I each receive a gift of $10,000 in our own names, but we file married tax return, do we have to claim those gifts? They are pure gifts to each of us separately, and not earned income.
I know that an individual can receive up to 12,000 without filing, but how does that apply when we each receive 10,000 and we're married? Does the law see that as a $20,000 gift to "one person" or are they still qualified as individual gifts, regardless of a married filing status?
2007-08-08
13:44:47
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8 answers
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asked by
mushmouthguy
1
in
United States