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#4
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| kalanamak <kalanamak[at]qwest.net> wrote: - quote - > Bill Brown wrote:
Probably 40 years ago I lost a $10 bet to my> > This won't be the least bit helpful but if one > > of my sons (both of whom I love very much and > > speak to often) made that sort of demand, I > > would be tempted to write, "I was going to > > give you $xxxx but you got so snarky about it > > I decided not to." father and went to write him a check. He demanded cash saying that if he took my check I might be able to deduct it as a medical expense (he was a doctor), So I smiled, wrote "gambling debt" on the memo line, and handing it to him said "Now I can only deduct it against my gambling winnings." - quote - > > Then, of course, my wife would overrule me.
This is not a tax problem but rather a social work> And, yes, I did. I hope these girls will someday > grow up and long after I'm dead, be nice to my > son, who is their half-sib, and, after his > parents-who-had-him-very-late-in-life are gone, > they will be all he has... problem. Growing up is hard to do. Your son will have the love of his parents, his education, his friends, and his career. It is his half-sisters who will have less for they will miss out on the sharing the joys of his life as they reach the age when such joys are fewer for them. Dick -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#3
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| Bill Brown wrote: - quote - > This won't be the least bit helpful but if one of my sons (both of
And, yes, I did. I hope these girls will someday grow up and long after> whom I love very much and speak to often) made that sort of demand, I > would be tempted to write, "I was going to give you $xxxx but you got > so snarky about it I decided not to." > Then, of course, my wife would overrule me. I'm dead, be nice to my son, who is their half-sib, and, after his parents-who-had-him-very-late-in-life are gone, they will be all he has... - quote - > The sentence in your post after "something like" should work.
Okay, will do.-- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#2
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| "kalanamak" wrote: - quote - > Hubby has given his grown daughters some money. It is below the $12,000
Why he wants to give nonspeaking daughter anything other than contempt is> mark. One is being given this via daughter's MIL (daughter doesn't speak > to hubby). beyond me, but it's his money. I assume that nonspeaking daughter will speak to his money, so regardless of who delivers the check, it should be made out to the daughter. - quote - > Both MIL and speaking daughter have asked for a signed note
Write "gift" on the memo line. If they don't like it they don't have to> stating it is a gift and not payment for property or labour, so they can > prove it isn't taxable income. cash it. -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
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| kalanamak <kalana...[at]qwest.net> wrote: - quote - > Hubby has given his grown daughters some money. It is below
Apparently there's some family history here of which we> the $12,000 mark. One is being given this via daughter's > MIL (daughter doesn't speak to hubby). Both MIL and > speaking daughter have asked for a signed note stating it > is a gift and not payment for property or labour, so they > can prove it isn't taxable income. .... are not aware. When I write a check and it's a gift, I write "Gift" in the memo line of the check. It's that simple. The only time I've ever written a letter to explain it was a gift was when I gave some money to the then-Mayor of Durham, NC to help defray his personal expenses due to a recall petition. I did so only because checks written to politions are presumed to be campaign contributions. Why was there a recall petition? He said "People should be able to live without fear of violence." Yes, that's why some nitwits started a recall petition against him. That and because he said it in a speech at a Gay Pride Rally. Thankfully there were not enough nitwits in Durham to garner the needed signatures. Dick -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| On Aug 15, 9:55*pm, kalanamak <kalana...[at]qwest.net> wrote: - quote - > Hubby has given his grown daughters some money. It is below the $12,000
This won't be the least bit helpful but if one of my sons (both of> mark. One is being given this via daughter's MIL (daughter doesn't speak > to hubby). Both MIL and speaking daughter have asked for a signed note > stating it is a gift and not payment for property or labour, so they can > prove it isn't taxable income. > I've googled about and found sites stating that the canceled check is > enough, but they want a letter. Many moons ago, I saw one sent to my ex > by his parents, and said something like > The amount of XXXX is freely given to our son, and is not payment for > goods or services, but given only out of our affection. > Anyone have advice on what I should write? (I do the paperwork in the > family). whom I love very much and speak to often) made that sort of demand, I would be tempted to write, "I was going to give you $xxxx but you got so snarky about it I decided not to." Then, of course, my wife would overrule me. The sentence in your post after "something like" should work. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
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| Hubby has given his grown daughters some money. It is below the $12,000 mark. One is being given this via daughter's MIL (daughter doesn't speak to hubby). Both MIL and speaking daughter have asked for a signed note stating it is a gift and not payment for property or labour, so they can prove it isn't taxable income. I've googled about and found sites stating that the canceled check is enough, but they want a letter. Many moons ago, I saw one sent to my ex by his parents, and said something like The amount of XXXX is freely given to our son, and is not payment for goods or services, but given only out of our affection. Anyone have advice on what I should write? (I do the paperwork in the family). Thanks so much! -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| documentation, gift, money, wording |
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