Gifting $ to Unemployed Child I want to give $1000 or so to my unemployed child at Christmas. Can he put it in an IRA of some kind ? I think Roth would not be allowed since he’s unemployed, and had no income in 2024 Suggestions? submitted by /u/dunncrew

These Are Your Worst Car Gifting Stories Earlier this week we asked for your worst stories involving car gifting. For a lot of enthusiasts, it can be an exciting prospect to either make use of vehicles after their previous owners no longer use them or to share a passion with younger drivers. However, gifting doesn’t always work out for the best. Recipients… Read more…

What’s Your Worst Car Gifting Story? At one point in our lives or another, we’ve made sweetheart deals for cars with friends or family. An adult gifting an old car to a teenager fresh out of their driving test. Maybe, you sold an unwanted car taking up space in your garage to a friend at less than the market price. While there are typically good… Read more…

Selling vs. gifting cars in NY Our family is swapping cars to account for babies on the way, and we’re having trouble determining if we should sell for $1 or gift them. Car #1 is going from me to my brother-in-law, so not family per the DMV. Purchased/registered in NY. FMV is probably $10k. Car #2 is going from my husband’s dad to my husband. Purchased/registered in NY. FM…

Patreon introduces subscription gifting and discounts Image: PatreonSubscriptions are the main way creators on Patreon make money, as they must build an audience willing to shell out a few dollars a month to access their writing, podcasts, or videos. The company announced today that creators and their fans can now give away gift memberships, which could be a powerful way for creators to grow their …

Gifting a car to out of state brother I want to sell my car to my brother for a few thousand. He asked if I could gift it to him. I’m in Illinois and he is in Ohio. If I gift it to him will I be imposed and capital gain or tax? Or any risk if I make a deposit into my bank account for the few thousand? submitted by /u/jtlog

Am I Dumb For Gifting Parents $10k? I’m 21 and still living with my parents until they move states next July, at that time I’ll likely move out and go from there. I graduated high school in 2020, stayed home and did online college for a couple years, then started to figure out social media a little bit and started making enough money to justify taking a break from school and work….

LPT: When gifting money, like for a wedding, write what you gifted them in the card Too many stories about family members stealing the money out of cards that someone has been gifted! Write “please enjoy this $100 to splurge on your honeymoon” or something of that effect, to establish what should have been included in the card. That way, you know your money is going to the intended, and not a greedy third party. submitted b…