Remunerative donation

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What is the name of your state? Louisiana

Does a remunerative donation attract either state or federal gift taxes?

 

[Snipes5]

Give us a few more details, such as a dollar amount.

Remuneration is pay. Donation is a gift.

Snipes

 

[redstick]

Greater than $30,000.

 

[Snipes5]

Guess what? We can't help you unless you use more words.

What exactly was $30,000? Did you give someone a gift? Did someone give you a gift? Did someone give you a gift and say it was for services you performed?

Snipes

 

[redstick]

An individual has made a verbal claim to monies due them from an estate as being a "remunerative donation". No documentation has been provided to substantiate this. If such a claim were to be accepted is the estate liable for any "gift taxes?" Thus, the question being asked: Is a "remunerative donation" treated by the state and federal tax authorities as remuneration, presumedly incurring income taxes for the donee, or is the money treated by these tax entities as a gift to the donee thereby incurring gift tax liability to the estate? The assumption is that the monies are remuneratively donated in a single-tax year, the year the monies are actually paid out, i.e., when they are paid, and thus the amount would exceed the limit on an annual donation to an individual.

 

[Snipes5]

The only references I can find to Remunerative donations are when places pay a donor to give blood or plasma.

I think this "individual" is full of crap, and trying to evade taxes in some way, with some strange twist of semantics. I suggest you contact a good Enrolled Agent or Tax Attorney to fend off the moron, and protect the estate. It will probably be well worth the money.

Snipes