As a result, the entire history of the car is documented. For the next twelve years, the âBird sat. Joe partially disassembled the car to determine what it was going to need. the list became so long that parts were acquired as opportunity and funds allowed. Fortunately, most of the special Superbird parts could be reused.
As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to. If you're married, you can double that: you and your spouse are each entitled to give away $13,000 per person.
How much of a gift is taxable? Q My partner's father has just won Â£102,000 and would like to give his two daughters Â£20,000 each as a gift. Would there be any kind of tax payable on this gift? If so, then what percentage would it be and what is the maximum he could give without them having to pay any tax?