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Re: Wording of documentation that money given is a gift

 

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Subject Author Date
Re: Wording of documentation that money given is a gift Phil Marti 08-16-2008
Posted by Phil Marti on August 16, 2008, 12:29 am
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"kalanamak" wrote:

> Hubby has given his grown daughters some money. It is below the $12,000
> mark. One is being given this via daughter's MIL (daughter doesn't speak
> to hubby).

Why he wants to give nonspeaking daughter anything other than contempt is
beyond me, but it's his money. I assume that nonspeaking daughter will
speak to his money, so regardless of who delivers the check, it should be
made out to the daughter.

> Both MIL and speaking daughter have asked for a signed note
> stating it is a gift and not payment for property or labour, so they can
> prove it isn't taxable income.

Write "gift" on the memo line. If they don't like it they don't have to
cash it.

--
Phil Marti
Clarksburg, MD

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