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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