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Home > Money & Services > Taxes   »   Gift taxes

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Old Jun 8, 2006, 01:48 PM
helpples
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Gift taxes
Hello,

THanks for you great advices and suggestions.

I have a question?

If your friend gives you some money as gift like around $15,000

do we need to pay taxes on it?? if yes how much tax do we need to pay


Thanks for your help.

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Old Jun 9, 2006, 09:33 PM   #2  
AtlantaTaxExpert
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You owe NO taxes on the gift.

However, the giver may owe taxes, because the amount exceeds the $11,000 annual gift tax exemption.
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