Cash Gifting Income
- Jun . 25 . 2009 | admin in category: Uncategorized |
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If someone gives me a one time cash gift, is it considered my income?
I am 18 and getting ready to go to college. I was put into foster care at the age of 13. I have applied for money to go to college on my fafsa. I have just been informed that my great aunt has been saving money for me to go to college. I am affraid that if i recieve the 18000 dollars from her this year it will be considered my income and i wont be able to recieve government money for college next year. Is a one time money gift of 18000 dollars considered my income for this year? I live in Oregon.
ALL is correct in what he says, but I’d like to make a comment to Julie….stop soliciting. You’ve been posting answers redirecting people to your site to improve your cash flow, shame on you!
