Ask Question
23 February, 00:54

Upon her grandmother's death, So-hyun received $100,000 to use for college expenses or for starting her family. The money is in a checking account for Sohyun to use as she chooses. How much tax does So-hyun own on the gift from her grandmother?

+2
Answers (1)
  1. 23 February, 01:04
    0
    Since the money was in a checking account and no interest was accumulated on the 100,000 amount. So-hyun does not owe any tax to the government and will collect the whole $100,000 upon the death of her grand-mother.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Upon her grandmother's death, So-hyun received $100,000 to use for college expenses or for starting her family. The money is in a checking ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers