Gifting Money When gifting money to someone, person to person, once you go over the $14,000 threshold, how is the money taxed? I need to gift someone $25,000 but not if I'm going to be taxed some crazy number like 40% on the $11,000 over the $14,000 mark for one year. This isn't considered a loan to me, and instead of just doing it, I figured I'd ask questions first before it came back to bite me. Just wondering how this works.
Thanks,
Justin |