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Tax on gifts

It seems like it's a little hit or miss whether I will be charged to receive the package.
Mr C, b, email.Furthermore, as your query clearly illustrates, people are being given an awful lot of poor advice.If the total value of the gifts you receive from the same donor in the course of 3 years is 5,000 or more, you must pay gift tax.So if it goes through smoothly then I would owe 16 chf 8 of the 260 CHF the package is worth (290 260 CHF today) 3 of 260.60 CHF.She says she did a declaration form at the post office (maybe all that yelling at her finally got through?Finally, you refer to notional rent.In that case, the amount they would normally receive in rent on the property in the open market would be considered an annual gift to you and would count against your lifetime limit after the first 6,000.I know it can be a bit confusing but it is worth pursuing, especially if it is the difference between affording your new home or not.Will parents pay tax for helping son?Maybe its easier with an example.Several years later, your relative dies and you decide to sell the painting.
When you sell property received as a gift, the general rule is that your basis is the donors cost basis.

This threshold does change from time to time (it was as high as 542,544 at one stage in 2009) but I dont expect it to alter radically in the next few years.If you sell at a loss, your basis is the lower of the donors basis or the fair market value on the date you received the gift.You refer to your parents being able to give you 3,000 to avail of the small gift exemption.But without cost records, you have no way of proving the donors basis and no way of saving diy 8th grade graduation gifts yourself tax dollars.Or do I get the first 100 CHF untaxed, and pay tax on the value over that amount (since it's supposed to be declared as a gift)?My mother has decided to send me a gift (clothing) worth a total value of 250 (USD she says she spent 40 in shipping through usps, but promises she didn't send it expedited (many angry phone calls from when I was living in Brussels and.