Survivor’s Gift Tax Consequences
This week on Survivor, Cindy won a car in the competition over the other four players. The producers then gave her a choice: keep the car or give the other four people cars of their own.
A. (my fabulous wife, the tax lawyer) looked at me over the baby and said, “You know, if Cindy gives the cars away, that’ll have pretty serious gift tax consequences.”
I replied, “Interesting. We’re likely the only couple in America having this conversation right now.”
