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What are the taxes on 3 million dollars won in a lawsuit?

11 comments
Ty asked:


There is a lawsuit won that is 3 million dollars and the money will be divided between the children. If each child gets $400,000 dollars, would each individual have to pay their own taxes or would the tax have to be paid off the top?

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  May 2 United States

My mom will get 1 million dollars from her boyfriend. Does she have to pay taxes on that million?

4 comments
Green asked:


My mom been taking care of her boyfriend for past couple years. She paid for his housing, food, etc. He is about to get 2 million dollars from a lawsuit and he wants to give half of that to my mom because she been taking care of him. Does she have to pay tax on that?
No recipient gift tax. Is there an upper limit?

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  Mar 17 United States

i want to transfer one million dollars from India to America so do i pay taxes? and what is the best option?

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jignesh_in asked:


actually i am a green card holder and planning to selling my property worth one million dollars in india and planing to buy some business in america so what are the best option to transfer money in america? and do i pay any taxes on it? what are the best options to transfer money in here. thank you for answering my questions in advance.

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  Sep 25 United States

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