The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: father or son?...or even sister? Date:  8/13/2001  12:16 AM
Author:  lorenzo2 Number:  53290 of 127749

Nit correction! I seem to have misspoken, several posts back, when I said that gifts included pretty much everything. Poking around a bit on the web, it appears that gifts are either money or property, period. And further, the property has to have a reasonable value, though that is never really very well-defined. That is, a Rolex watch counts as a gift, a $2 ballpoint pen does not. Taking someone out to dinner appears to be ok! And I just don't know about, say, taking a friend with you to Europe at a cost of $3000. I would have thought that that would be a gift, but maybe not...

The short answer is that I really don't know what a gift is, and I'm sorry I ever said anything about it.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us