To: EVO X
The way I understand this transaction is the person paying off Hunter's 2 million tax liability is a gift. Hunter has no tax liability. The person making the gift that exceeds reporting requirements has to report it to the IRS..
Yes, the donee is not responsible for any taxes unless they agree to do so. The donor is responsible for taxes on the gift, after a $15M annual exclusion, unless it's for tuition/medical debt, to a spouse, or certain charitable or political organizations.
To: Svartalfiar
This was a guess and I suspected it for quite some time. Laptop from hell suggests he is totally broke but yet he is living high on the hog in costal LA. A sugar daddy makes sense...
A
54 posted on
05/09/2022 2:26:22 PM PDT by
EVO X
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