Gift tax?
Apr 29th 2010, 11:30 pm
#1
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Gift tax?
If someone in the UK gives say $20k to someone in the US as a gift, what is the tax liability for the person in the US?
From what I've read it looks like the tax is paid by the donor in the UK - just wanted to check if this is right?
From what I've read it looks like the tax is paid by the donor in the UK - just wanted to check if this is right?
Apr 30th 2010, 1:55 am
#2
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Location: Richmond, VA, USA
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Re: Gift tax?
I have no idea if this will be helpful or not, but I found the following:
http://library.findlaw.com/1999/Jun/1/130523.html
To be on the safe side you might want to check with a CPA.
~ Jenney
http://library.findlaw.com/1999/Jun/1/130523.html
To be on the safe side you might want to check with a CPA.
~ Jenney
Apr 30th 2010, 2:06 am
#3
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Re: Gift tax?
http://wills.about.com/od/understand...tisgifttax.htm
Apr 30th 2010, 2:36 am
#4
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Re: Gift tax?
Thank you - very useful 
