Ok, I'm sitting here watching "Extreme Makeover: Home," and it reminds me of a question.

I heard, when Oprah gave away all those cars, that the problem for the receipents was that they were going to have to pay the taxes on them. Even if Oprah paid the taxes, they would then have to pay income tax on the extra amount.

Is this true? What about people that are given homes? Do they have to pay some sort of "gift tax" on them?

If so, it'd almost make one want to refuse the gift, seeing as mostly people with lower income receive them. They are in a particularly poor position to pay those taxes.

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2010 528Xi
I demand justice.
Or, if there must be injustice, let it be in my favor.

Reynold's Wrap: it's not just for hats anymore.