View Single Post
Old 03-17-2011, 08:02 AM
  #23  
catmcclure
Super Member
 
Join Date: Jun 2010
Location: Bay Area near San Francisco
Posts: 1,213
Default

You're allowed to "gift" up to $10,000 per year to any one person. You can gift as many $10,000 gifts to as many people as you want (or can afford).

Therefore, sending a couple of thousand a year to someone in small increments, each of which is tagged as "gift" will not trigger any tax consequences on your or them.

What they're wanting to do is catch people who make thousands and thousands through ebay and paypal.
catmcclure is offline