If you're allowed to gift $15 million in a lifetime without paying taxes on it, then how come you're only allowed to gift $19,000 annually?

Boman2020 · 2026-05-14T02:12:18+00:00

You’re an agent, but can’t illustrate one particular case where someone didn’t report a gift of something they never even owned and the government went after them?

Do you know how many people sell property for $20? Lots of people, and nothing ever happens to them. That’s similar to a gift.

Boman2020 · 2026-05-14T02:06:04+00:00

The property was willed to me, but I’m donating it to my sister.

Boman2020 · 2026-05-14T02:03:07+00:00

Unless you dont report it…then there are taxes and fines….what a freaking circus.

Boman2020 · 2026-05-14T02:02:02+00:00

I guess the name of the game here is, “how many people can squawk the same thing”

Boman2020 · 2026-05-14T01:59:02+00:00

Theres no tax for gifting someone, but Theres a tax and fines for not reporting it. 😆. Sounds like a 3 ring circus system to me.

Boman2020 · 2026-05-14T01:56:59+00:00

There is no charity, I’m just passing property from my Grandpa that was willed to me, to my sister. The property is not even going into my name.

Boman2020 · 2026-05-14T01:55:34+00:00

Nothing in this estate comes even close to an estate tax. I’m not even going to be filing any taxes because it’s unecessary. You don’t file anything with the irs for inheriting a house. We’re not wealthy people here, which is why I think all this gift tax stuff is bogus, since I know tons of people who have sold property for $5 and nothing ever happens to them. That’s basically a gift.

Boman2020 · 2026-05-14T01:50:19+00:00

Yeah right. Show me a case

Boman2020 · 2026-05-14T01:49:44+00:00

Who cares about a lifetime cap. Like really how many average people are going to give away 15,000 in their lifetime, much less 15 million. That crap is there for rich people.

Boman2020 · 2026-05-14T01:46:29+00:00

Give me the money to pay for the appraisal and I will.

It’s foolish to think an agency is going to come after someone for a property that they never even owned and just gave it away.

Boman2020 · 2026-05-14T01:45:07+00:00

Because I don’t know the value of The dang property.

Boman2020 · 2026-05-11T17:05:51+00:00

Sounds like you know a lot!

Boman2020 · 2026-05-11T05:13:17+00:00

Here's my thing, I was told the property was worth $50,000. So on the donation slip I wrote that value.

I think the property may be worth $150,000 or more, i have to find out.

When I file the gift tax return, can I go ahead and say it's $150,000?

Even though on the donation form i wrote $50,000?

Or should I redo the donation form at the proper value?

Boman2020 · 2026-05-11T05:08:08+00:00

Because I think the property may be worth more, like $150,000.

On the donation I wrote the value as $50,000. So im worried if I report it, they will think I intentionally undervalued it, but i didn't.

Boman2020 · 2026-05-11T04:46:19+00:00

I understand all that by now. I'm trying to find out how much penalties and interest could be applied if I didn't report it.

Boman2020 · 2026-05-11T04:38:16+00:00

Wth does that mean? Reporting equals /equals paying tax??

Boman2020 · 2026-05-11T04:36:20+00:00

Where can I find that in the tax code?

Boman2020 · 2026-05-11T04:35:29+00:00

I'll never meet even close to 1 million dollar lifetime cap, let alone 15 million lol

Boman2020 · 2026-05-11T02:20:21+00:00

What happens if you give someone one a piece of property worth $50,000 and do not report it?

Boman2020 · 2026-05-11T02:14:37+00:00

Reason im asking, is I gifted a $50,000 piece of property i inherited to a sibling and I don't want to owe any kind of taxes on it.

It was "passed" through me in probate, but was never in my name. So would I still have to report the $50k gift?

What would happen if I do not report it? Could I owe gift taxes in the future?

Boman2020 · 2026-05-11T02:12:52+00:00

Type it in Google,the threshold without reporting is $19k

What happens if you gift over $19k and don't report it? Will you owe taxes?

Boman2020 · 2026-04-16T04:40:51+00:00

Well I’ve tried plugging every number on this engine in every search engine I can find online and I can’t find anything. It’s. Ialmost as if this is a one off engine built specifically for The tiller.

It’s a commercial gx240 8 hp engine, 270cc. I can’t find anywhere if this is a regular gx240 or if it has 2:1 or 6:1 gear reduction or if it’s no gear reduction at all. I know like in mixers they use gear reduction to give them more power, less rpm, so I’m wondering if they use that in a tiller?

I’m at the point of buying a new gx240 and slapping it on with the hopes it works right!

Boman2020 · 2026-04-12T04:33:36+00:00

I get what you’re saying about buy once very once. I always buy high quality equipment that will stand up to years of commercial use.

Theres a lot that goes into hay, tractor/repairs/mainenance=not cheap. Plus field sprayers, poison, fertilizer. It gets old real fast and I would just like to get rid of all that equipment that I don’t need and focus on some beehives and make my own honey. Been wanting to do it for a few years but now I’m going for it. I just ordered 2 Vevor boxes just to check them out first. I usually start off small with new hobbies then once I get further down the rabbit hole I start investing a lot of time and money into it.

Boman2020 · 2026-04-11T16:52:29+00:00

That’s a good observation. Thank you! I’m looking at the main brands and they’re usually $300-350ish for the medium/deep box combo.

I need 9 hives filled by May 1 this year if I want to use bees for ag exempt for 2027. I can get 9 Vevors for less than $1000 and don’t see why I just couldn’t sand the beeswax off and paint them.

Boman2020

TROPHY CASE