why does it "depends" when it comes to gift tax?

Asked by IW625BRENDA, Mililani, HI Sat Jan 25, 2014

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Terry McCarl…, Agent, Cape Coral, FL
Sun Sep 28, 2014
Questions regarding tax matters should be addressed by an accountant - real estate agents can't give tax advice or legal advice.
0 votes
Robert and S…, Agent, Montclair, NJ
Sat Jan 25, 2014
What is your specific reference to the gift tax? For a downpayment on a home? Gift tax depends 'form and substance.' Who is giving it and if it is reportable. If you can provide more info, I could be of more help and guidance. However, an accountant, of course, would be the go-to authority for your specific situation in the end.

Sandra Bolcar
Broker Associate
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