I have a weird case here and am trying to understand the tax scenario here.
There are two joint accounts (See below) and 3 people involved (persons "A", "B", and "C")
Joint account 1 = A + B
Joint account 2 = A + C
If person "A" transfers 50K is transferred between joint account 1 to joint account 2, is there any gift tax required?
There are two joint accounts (See below) and 3 people involved (persons "A", "B", and "C")
Joint account 1 = A + B
Joint account 2 = A + C
If person "A" transfers 50K is transferred between joint account 1 to joint account 2, is there any gift tax required?
Statistics: Posted by randompacking — Tue Dec 26, 2023 10:54 am — Replies 2 — Views 130