A taxing question – we should all be so lucky.

Q. I will be receiving a large (6 figures) gift from someone; do I have to pay the gift tax?

A: The person who makes the gift files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount $14,000, the giver must file a gift tax return. You will have to pay any capital gains tax that the funds earn once you have invested the gift.

disclosures:http://www.hechteffect.net/?page_id=31