Weddings & Gift Tax

[Anarchrist]

If a taxpayer pays for his daughter's wedding and the amount exceeds the gift tax exclusion, is a gift tax return due?

Would it matter if the taxpayer paid the expenses directly or if he gave a check to the daughter for reimbursement or for her to pay the expenses?

[Burke]

I wonder how many people have actually done that?

[Kram BergGold]

My guess

If the parent paid all party expenses directly I would say no gift. The parent gave the party as a celebration for friends and family. If the parent gave a check to the child to make the party then there is a gift as the child made the party for friends and family.

[thomtax]

Disclaimer: Before someone get upset with me, I am kidding. Although now that I have said it, it may be a defensible argument. Who knows???

Paying for a wedding could be considered as being spent for the benefit of the father, since the husband will now be responsible for paying for her living expenses.

[Roland Slugg]

Engagement ring

I agree that as long as one (or more) of the parents pays the expenses directly, there is no gift. It's the parent's party, and the bride and groom are just the honored guests.

But what about a man who gives his fiancé an engagement ring that costs $20K ... $30K ... or more? Do the gift tax rules apply? I say they do, because the fiancé is not the man's spouse ... yet.

[DTS]

Roland

But what about a man who gives his fiancé an engagement ring that costs $20K ... $30K ... or more?

I must be so out of touch with things. Surely, he can find a fiance' cheaper than that!

[oceanlovin'ea]

Where can I find a man to buy me a ring for that much money?

Linda F

[JG EA]

De ja vu

2007:

http://www.thetaxbook.com/forums/showthread.php?t=5724&highlight=engagement+ring

2006:

http://www.thetaxbook.com/forums/showthread.php?t=3128&highlight=engagement+ring