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Gift tax qustion

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    #16
    Originally posted by jainen View Post
    I ain't givin' 'em nothin', the ungrateful brats.
    Just seeing your headline I thought you call me "ungrateful brats", but then maybe the post would have been deleted.

    If I understand your opinion through your statements correctly then I am right on the spot with my earlier conclusion, namely: Support is never a gift.

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      #17
      I would imagine that all food, lodging, clothing, education, shelter and everything else similar
      provided to a child would be the duty of the parents and would be considered support, including transportion, perhaps even a car and would NOT be a gift. I plan to purchase a new car for my daughter soon which WILL be a gift since it is not essential. Since my wife and myself will each contribute to the $22,000 cost of the car and we can each contribute $12,000, NO gift tax return will be required.
      Last edited by dyne; 03-31-2007, 05:12 PM. Reason: typo

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        #18
        Don't you have to file a gift tax return if you do gift splitting?

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