BonesOfTheMoon@lemmy.worldM to InsanePeopleFacebook@lemmy.world · 2 months agoI'm sorry for grandma of course but I like the 21 dollars in silver coins, sovcit.lemmy.worldimagemessage-square17fedilinkarrow-up165arrow-down13
arrow-up162arrow-down1imageI'm sorry for grandma of course but I like the 21 dollars in silver coins, sovcit.lemmy.worldBonesOfTheMoon@lemmy.worldM to InsanePeopleFacebook@lemmy.world · 2 months agomessage-square17fedilink
minus-squarelemmyman@lemmy.worldlinkfedilinkarrow-up16·2 months agoThe funny thing is, the gift wouldn’t be taxed anyway. It’s certainly valued less than the multi-million-dollar federal lifetime gift tax exemption (and no state has an exemption under 1 million, either)
minus-squareBrosplosion@lemm.eelinkfedilinkarrow-up4·2 months agoThere’s a yearly limit for gifts at $18k in 2024.
minus-squarelemmyman@lemmy.worldlinkfedilinkarrow-up5·2 months agoTrue, but anything over that just counts toward estate tax, which has the aforementioned exemptions.
The funny thing is, the gift wouldn’t be taxed anyway. It’s certainly valued less than the multi-million-dollar federal lifetime gift tax exemption (and no state has an exemption under 1 million, either)
There’s a yearly limit for gifts at $18k in 2024.
True, but anything over that just counts toward estate tax, which has the aforementioned exemptions.