As a result, the entire history of the car is documented. For the next twelve years, the âBird sat. Joe partially disassembled the car to determine what it was going to need. the list became so long that parts were acquired as opportunity and funds allowed. Fortunately, most of the special Superbird parts could be reused.
As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to. If you're married, you can double that: you and your spouse are each entitled to give away $13,000 per person.
He can double that amount if it is a gift to a child + the child's spouse. And if your mother is still living, she can join in the gift, even if her name is not on the account, and they can gift $28k per year per person without filing a return. If he/they want to gift more in any...