Cash Gift

[ponyboy]

My father is giving me and my two sisters a 10,000.00 gift.My two sisters are on SSI and can’t have large sums of money in their account,so I’m going to end up depositing 30,000.00 into my bank account, and give them money when they need it.Will I need to pay taxes on it?

[Eugene]

No, but your father might.

[Eugene]

No, but your father might.

[Eugene]

No, but your father might.

[Eugene]

No, but your father might.

[Eugene]

No, but your father might.

[waterboy]

Not an expert, but can’t your sisters both gift $10k each to you and then in return you can slowly gift back to them as needed?

[waterboy]

Not an expert, but can’t your sisters both gift $10k each to you and then in return you can slowly gift back to them as needed?

[waterboy]

Not an expert, but can’t your sisters both gift $10k each to you and then in return you can slowly gift back to them as needed?

[waterboy]

Not an expert, but can’t your sisters both gift $10k each to you and then in return you can slowly gift back to them as needed?

[waterboy]

Not an expert, but can’t your sisters both gift $10k each to you and then in return you can slowly gift back to them as needed?

[abell]

I think your father would need to pay your sisters who would then pay you to avoid taxes. If your father pays you $30,000 in one lump sum, there are tax consequences (not sure if it’s for you or your father or both). Alternatively, your father can pay you 10,000 per year for 3 years which you can then split with your sisters.

[abell]

I think your father would need to pay your sisters who would then pay you to avoid taxes. If your father pays you $30,000 in one lump sum, there are tax consequences (not sure if it’s for you or your father or both). Alternatively, your father can pay you 10,000 per year for 3 years which you can then split with your sisters.

[abell]

I think your father would need to pay your sisters who would then pay you to avoid taxes. If your father pays you $30,000 in one lump sum, there are tax consequences (not sure if it’s for you or your father or both). Alternatively, your father can pay you 10,000 per year for 3 years which you can then split with your sisters.

[abell]

I think your father would need to pay your sisters who would then pay you to avoid taxes. If your father pays you $30,000 in one lump sum, there are tax consequences (not sure if it’s for you or your father or both). Alternatively, your father can pay you 10,000 per year for 3 years which you can then split with your sisters.

[Author]

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