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https://boards.fool.com/but-i-feel-stupid-asking-this-of-course-i-would-17040588.aspx
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| Subject: Re: Tax on cash gift? | Date: 4/10/2002 3:13 PM | |
| Author: irasmilo | Number: 60165 of 131788 | |
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But (I feel stupid asking this) of course I would pay income tax myself on this amount, would I not? No. A gift is not income. If you earn interest on the money or invest it in something that creates income, then you pay income tax. Ira |
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