How much of a monetary gift can you recieve without being taxed?
Saturday, March 28th, 2009j29_04 asked:
My wife and I are in a financial bind. My friend is willing to loan us money. Obviously not through a bank. My friend will gift us the money as a gift (of course we are paying it back) into our bank account. My question is does anyone know how much of a gift I can receive withouth having to pay taxes on it? We live in CA if that makes any difference.
S5tevo, thanks for the link and info.
Diane
My wife and I are in a financial bind. My friend is willing to loan us money. Obviously not through a bank. My friend will gift us the money as a gift (of course we are paying it back) into our bank account. My question is does anyone know how much of a gift I can receive withouth having to pay taxes on it? We live in CA if that makes any difference.
S5tevo, thanks for the link and info.
Diane



