QUESTION

My ex-father-in-law paid my tax payment for this year (2010) To the tune of $10,992.00 for federal and $584.00 for State (NJ). He wrote the FED check directly to the Internal Revenue Service and I put mine and my husbands SS# in the memo along with my extention form postmarked on time. My question is -- will this money in any way, be considered as income to me and my husband for next years taxes. Thank you

Asked on Apr 18th, 2011 on Taxation - New Jersey
More details to this question:
My ex-father-in-law paid my tax payment for this year (2010) To the tune of $10,992.00 for federal and $584.00 for State (NJ). He wrote the FED check directly to the Internal Revenue Service and I put mine and my husbands SS# in the memo along with my extention form postmarked on time. My question is -- will this money in any way, be considered as income to me and my husband for next years taxes. Thank you
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
No it will be considered a gift, and it is under the maximum gift amount of $13,000 per person per year. 
Answered on Feb 26th, 2012 at 7:49 PM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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