Is a gift I received subject to income taxes?

March 16, 2005

Subject:  Gift Tax Question
Date:  Sun, 27 Feb 2005
From:  Jason

I received a cash gift from my family in Taiwan. Is the gift subject to income tax?

Answer

Date:  04 Mar 2005

Hello Jason,

No. Non-commercial gifts aren't subject to income taxes. Your family should determine whether they have any liability for gift taxes in Taiwan.

Good luck!
Mike Gray

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