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Re: Dan's Income is Taxable, Kids
The Judge wrote:
> To all:
> I am in for sending money to Dan, but it should not be sent to him directly
> (now don't go thinking this is LEGAL advice). Shouldn't we find a place
> (commercial, preferably) that will sell the engine and send the money to
> them? If Dan gets the money directly, it goes into his Taxable Income and
> he pays the piper.
> Just a thought.
As far as I know, any money that is a gift (will not be repaid) given to
someone is not taxable UNLESS it is more than $10,000 in any given year.
Therefore, I think that he is ok. My check will be sent soon.
Randall C. Markarian
1990 V8 Quattro
1996 Merc E320