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Questions tagged [gift]

45 questions
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Can someone legally require me to return a gift they gave me?

So a "friend" in Canada sent me a tablet ( I think it was worth $400 U.S. currency) to replace the one I had that I could barely do anything on. I never asked for one, and I remember repeatedly that I told him not to get it for me, but he did. …
Maria
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Why doesn't everyone in UK just pay with exempted gifts?

From what I've grasped from the gov.uk website, you can gift as much as you like to anyone without paying any tax, as long as you don't die in the next 7 years. So why doesn't everyone just gift money to each other, to avoid paying tax? For…
christiaantober
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If I give my daughter $50k for her wedding and she elects to use the money to pay down a house, can I sue her?

Inspired by the following Reddit post. My parents gave each of my brothers $50,000 when they graduated from university as a downpayment on their home. When I graduated they did not do the same for me. I asked about it and they said my husband…
Allure
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What laws did Lori Loughlin (and friends) break?

I watched the college admission scandal articles go by earlier in the week without much interest. Today I read College admissions scheme: How Felicity Huffman and Lori Loughlin allegedly participated, but I am not clear what the issues are, and what…
jww
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Is it acceptable to send flowers to a judge after a routine administrative proceeding?

I recently filed a petition in my county court. While I'm aware it's a routine proceeding for county judges, the judge's grant of my petition means a lot to me personally, and I would like to send a gift of flowers and a card as a token of my…
Doktor J
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Can you take back a gift?

Suppose that I unconditionally and unambiguously give a person a thing such as a necklace with a moderate value (say $1000): I hand it to them and say "Here, you can have this, I don't need it anymore". Then suppose I have giver's remorse and the…
user6726
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Can my ex take back a laptop he gifted to me?

My ex gifted me a gaming laptop about six and a half months ago. He told me straight ward that he was giving me the laptop. I even offered money to him for it and he denied it. Now he's saying he needs it to do work and he only let me "borrow" it,…
Danielle
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Can someone sue me for not giving back the amount of money they gave me as a gift?

I was given an amount of money (less than 2,000$ CAD) as a gift from someone with her confirmation (by message and on paper). At first, I told her that I would accept the gift, but in the future, if possible, I will return it as my will because I do…
Hamie Vo
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I have multiple Gift Cards for a retailer but they refuse to let me apply more than one per order. Is this legal?

We were recently given a couple dozen gift cards from multiple web sites, but as far as I can tell the same parent company (website design is the same, about us page is the same etc.). I've already determined they're actually just a scam (each gift…
MrDuk
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UK: Can I give money to my brother instead of him paying income tax on a share of my rental income?

Let's say my brother acts as guarantor for my mortgage, so that I can buy a bigger house than before. He does not put his name on the house deeds, and he does not contribute to mortgage payments, I can still afford these on my own. I then make…
christiaantober
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Does the legal definition of prostitution exclude gifts as a type of “fee”?

This is a really interesting and great question: Hypothetically walking the line between pornography and prostitution I wanted to add one question to the general one of where the conceptual “boundary” of prostitution is. That post quotes this Texas…
Julius Hamilton
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Can my mom take back a gift after I move out?

So my mom gave me an Xbox a couple of years ago. It was not given on my birthday or Christmas. Can she take it back? I'm about to move out.
ian
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Is lending taxable?

Barter is taxable. So are gifts. What about lending objects (possibly for an indefinite amount of time)? If it is not taxable, would that constitute a loophole for the taxation of gifts and barter? If not, why? Perhaps there is some restriction on…
Stephane Bersier
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Can an LLC member "reject" an unvested gift of interest from a living member several years after it is given?

I have an LLC. My son and daughter (both over 18) are the only other members. In December 2019, I transferred to my son a capital interest worth $15,000 as a gift and did the same for my daughter. Both capital interests are unvested and will vest…
SapereAude
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If a partner abandons his interest, what is the tax treatment for the remaining partners?

Suppose a partnership (such as an LLC with pass-through taxation) has three members. Each owns an equal share of the business, which has a net liquidation value of $300,000. One partner abandons his capital interest (valued at $100,000). What are…
SapereAude
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