Or, do you return it back to the unbetrothed man?
If you DO keep it, it is considered as "income" according to Federal Income laws.
Have you ever declared a kept Diamond Engagement ring as "income" for tax purposes on your return?
(this question is prompted by a segment that just appeared on Fox News where their legal analyst, Liz Wiehl, clarified that an Engagement Ring (from a cancelled engagement) that is not returned but, kept by the bride-to-be because she claims it as being "given to her", is "income" and should be declared on her tax return.)
2007-09-04
02:01:37
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27 answers
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asked by
GeneL
7
in
Weddings