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.
Gifts of $13,000 or less to individuals are not subject to gift tax regulations. This means that you can give $13,000 a year to your child and another $13,000 a year to that child's partner for a total of $26,000 without having to worry about gift taxes.or a $200,000 home, that comes out to $40,000, which is not an easy chunk of money for many buyers to come up with, especially first-timers. However, buyers can benefit from cash gifts from relatives to help cover the down payment. These gift givers, though, must follow certain rules.