Gifting and capital gains are two different animals.
Quote:
Originally Posted by
cooldolphins
:wigged::help:what if the value of the dinar remains under the 12000 allowable gift amount??? Yikes. I need to learn a lot.:fryingpan:fryingpan:fryingpan
$12,000 doesn't matter. If you give them $12,000 CASH, then everybody is fine. You give them Dinar, then their basis is your basis. And they have a capital gain.
Darn. I hate being confused.
I honestly thought that if someone had say under 10000 USD (say the dinar is worth that) then they would not have to pay a capital gains under 10K. I honestly didn't think it mattered whether or not I gave them dinar or not. I have given 25K notes to family b/c they are not buying their own. Oh, well, we will have to re-think that if it goes up-perhaps I'd have to cash it all in and THEN pay them out....somehow.:help::flame::flame::wacko: