 Anyone know about capital gains tax? |
I bought a house for my Mum & Dad to live rent free in their retirement. Both have now passed on, leaving me with a house to sell.
Will I have to pay CGT on the profits? Purchase price was ... |
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 Getting screwed by the I.R.S. help? |
| 2001 i owed 1k , 2002 owed 3k and 2005 owed 1k. did not recieve my first letter until 2004 stating i owed. have been recieving letters requesting payment in amount of 10k as of january 07'. rec&... |
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 Stimilus check question... please help!!!? |
| When I go to the status thing on the website for the IRS it says how much our rebate is and when it is supposed to be deposited, but it also says at the bottom, please note, you may receive some or ... |
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 Tax return question. What should I enter in this field? |
It says "Enter the amount of any tax year 2006 state or local income tax refunds:"
I don't understand this, would someone explain this to me in normal human language.... |
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 Is it bad 2 say this person isnt here n gettin $$ for this person ?????????? |
can any1 get in trouble 4 doin this ???????????
Additional Details
takin $$ that this person isnt here dont live here n never will but but im not cashin it im just sendin it out n ... |
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 Who gets the Stimulus Payments check? |
| i did my taxes this year its me and a baby . im single and head of household with one child. how much should i get back?... |
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 I am an NRI & my wife is a house wife. The interest earned on Fixed deposit is taxable. she is a house wife? |
| She had a FD of approx. 780,000.00 for around 5 - 6 FD. is the interest earned on FD is taxable. she had no other income & house wife She don't have a PAN card also.... |
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 Is there any tax rebate on car loan? |
| Is there any tax rebate on car loan?... |
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 Council tax? |
| we want to move somewhere for 6 months and so only want to pay it for that long, and then after that we might go abroad. Do you have to pay for whole year (cant see why as it would be unfair) or is ... |
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 Can I deduct credit card interest for money deposited into a MM account? |
| If I take a credit card cash advance and deposit this money into a money market account, is the interest on this credit card debt deductable on federal taxes? I have an unique credit card offer that ... |
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| I think I am getting too much back? |
| I filed on Turbo-tax. I made around $7800. I paid in $414. Somehow Turbo-tax says I'm gettin back $774. Is there maybe some tax credit that was applied automatically by turbo-tax? Did I ... |
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 Is 991.00 too much for tax prepare? |
| I apply for the RAL with HSBC at a tax place, and I called today to check and see how was myy IRS Refund $5,264.00, but I got my check with fees taken out it was $4,272.46 as you can see that is ... |
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 How safe is www.taxact.com? The y are supposed to to help prepare tax for free.? |
| or better still does anyone know where i can file taxes for free in south florida?... |
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bonight1 | Money Question? |
What qualifies income as taxable income? What if I was just given $30,000? |
 |
 
Thrasher
 |
If you were given $30,000, $19,000 is taxable under Gift Tax. The gift tax applies to any amount given by one individual to another individual over $11,000. The giver must file form 709 and pay gift tax.
Go to www.irs.gov for more details on Gift Taxes. |
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taxable income is any and all income you make... that is why there is places on tax forms that have you add in any untaxed income.
that 30,000 is taxable by the IRS standards. |
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NC
 |
Income is qualified as taxable or non-taxable (exempt) by applicable law, which, needless to say, can be complicated. |
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John M
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gifts are not taxable.
the gift tax exclusion for 2006 is now 12000
if a married couple makes the gift.....24000
the giftor must file a gift tax return.
the giftee has no obligation to IRS
if you are the giftor, consult a local CPA |
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lade40free
 |
There is a list you can view of taxable vs. non taxable income. Go to www.irs.gov If this was a gift, there is not consequence to you. The person that gave it to you can exclude some of the 30k by filing the proper paperwork mentioned in above anwers. But you're free and clear! Enjoy the money! |
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Stephanie w
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you have to pay inheiritance tax on any inheiritence over 10000 |
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Liz
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You are allowed to be gifted a non taxable gift of ten thousand dollars a year, after that you have to pay for it. |
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Jennifer N
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That is taxable income. |
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Mandi
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i dunno |
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