My aging parents are considering selling their main residence (a condo in a popular vacation state) and moving to their second home, which is near us.
We are considering purchasing their condo to keep it in the family as a place to vacation. We would keep it for personal use - no rentals.
My question is, if my parents stay in the condo rent-free for 2-3 months, and if they also independently gift us an annual amount below the gift tax limit of $15,000 per year, is there a danger the IRS could consider the gift money rent? Is there anything that needs to be reported in this scenario?
Search found 389 matches
- Sat Oct 30, 2021 4:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vacation home question
- Replies: 1
- Views: 628
- Sat May 01, 2021 6:12 pm
- Forum: Personal Finance (Not Investing)
- Topic: How long should I keep this car loan?
- Replies: 13
- Views: 1224
Re: How long should I keep this car loan?
Thanks for all the thoughts and advice. I'll probably pay it off over the next three - six months.
- Fri Apr 30, 2021 8:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: How long should I keep this car loan?
- Replies: 13
- Views: 1224
How long should I keep this car loan?
We bought a new car two weeks ago. Had planned to pay cash, but when we arrived at the dealer (60 miles from our house) it turns out they only accept bank checks. We've paid with personal checks in the past so hadn't anticipated this. It's been a long time since we bought a new car. Is this normal practice now? Anyway, it was the weekend, banks were closed. They needed payment before registering the car, and we were trying to avoid an extra 2.5 hour round trip during the week to organize payment. So we financed at 3%, planning to pay it off immediately. There were no extra fees, no penalties on pre-payment. I paid off 3/4 of the loan online. Now, with $8k left on the loan, I'm wondering if I should just make regular payments and pay it off ...
- Mon Jan 07, 2019 2:35 pm
- Forum: Personal Consumer Issues
- Topic: How to save on prescription drug costs?
- Replies: 60
- Views: 6361
Re: How to save on prescription drug costs?
In my case, levothyroxine loses potency if it gets too warm, and thus can’t be mailed in hotter months.
- Mon Jan 07, 2019 2:24 pm
- Forum: Personal Consumer Issues
- Topic: Bedding (sheets) recommendations - having terrible experience finding quality sheets
- Replies: 36
- Views: 6459
Re: Bedding (sheets) recommendations - having terrible experience finding quality sheets
LlBean, the higher end percale sheets are made in Portugal and are excellent.
- Mon Jan 07, 2019 2:18 pm
- Forum: Personal Consumer Issues
- Topic: How to save on prescription drug costs?
- Replies: 60
- Views: 6361
Re: How to save on prescription drug costs?
Some meds are temp dependent and shouldn’t be mailed. Something to keep in mind.
- Wed Jan 02, 2019 2:02 pm
- Forum: Personal Consumer Issues
- Topic: Your ideal home size
- Replies: 130
- Views: 11237
Re: Your ideal home size
We are at 2200 ft.² for two people. To me this is the perfect size. This does not include basement, which is finished, bringing us to 3200 ft.²
Do we need this much space? Of course not. We lived very comfortably in 1600 ft.² for many years. But it is awfully nice to have some extra room to spread out.
Do we need this much space? Of course not. We lived very comfortably in 1600 ft.² for many years. But it is awfully nice to have some extra room to spread out.
- Wed Sep 26, 2018 5:27 pm
- Forum: Personal Consumer Issues
- Topic: Movie Forums
- Replies: 1
- Views: 373
Re: Movie Forums
Not exactly equivalent, but Reddit generally has decent conversations about movies.
- Thu Sep 13, 2018 12:05 pm
- Forum: Personal Consumer Issues
- Topic: Subaru Forester - ready to buy
- Replies: 43
- Views: 5794
Re: Subaru Forester - ready to buy
We test drove the 2018 Forester and have decided to wait for the 2019 model. It depends on if the new model improvements matter to you. To us, they do.
Specifically 2019 is supposed to be quieter and has CarPlay, both were sticking points for us.
Specifically 2019 is supposed to be quieter and has CarPlay, both were sticking points for us.
- Sat Aug 25, 2018 9:33 am
- Forum: Personal Consumer Issues
- Topic: The Fall of Consumer Reports
- Replies: 126
- Views: 31818
Re: The Fall of Consumer Reports
This. I'm Gen X and agree 100%.
I actually have free access through work and on the occasions that I've thought to check their reviews I've found them pretty useless and far less helpful than other online sites.
- Thu Aug 23, 2018 2:50 pm
- Forum: Personal Consumer Issues
- Topic: I own 1,387 items!
- Replies: 128
- Views: 13272
Re: I own 1,387 items!
My actionable item is to re-watch Fight Club.
- Thu Aug 09, 2018 1:36 pm
- Forum: Personal Consumer Issues
- Topic: Your opinion on online courses?
- Replies: 26
- Views: 2941
Re: Your opinion on online courses?
The top indicator for a well rated online course is instructor engagement. It's that simple.
- Fri Aug 03, 2018 7:14 pm
- Forum: Personal Consumer Issues
- Topic: weekender bag?
- Replies: 30
- Views: 3711
Re: weekender bag?
That's because good quality at a $50 price point does not compute.
- Fri Aug 03, 2018 6:31 pm
- Forum: Personal Consumer Issues
- Topic: weekender bag?
- Replies: 30
- Views: 3711
Re: weekender bag?
I discovered Floto Imports for nice made in Italy leather weekend bags. I've been very happy with my weekend duffle with a more retro feel. Also have a Dakine for banging about, which has been awesome.
- Sun Jul 22, 2018 9:35 am
- Forum: Personal Consumer Issues
- Topic: I dont know how to spend money
- Replies: 39
- Views: 6326
Re: I dont know how to spend money
Are you happy with your job and career? Do you have friends and enjoy yourself with them?
I don't think skipping lunch is such a good idea. It's great that you pack your lunch, but give yourself a break if you forget it and be kind to your stomach.
I don't think skipping lunch is such a good idea. It's great that you pack your lunch, but give yourself a break if you forget it and be kind to your stomach.
- Tue Jul 17, 2018 6:13 am
- Forum: Personal Consumer Issues
- Topic: [Amazon Prime Day]
- Replies: 194
- Views: 18948
Re: Amazon Prime Day 2018
A few movies I had my eye on were actually priced higher. So much for that.
- Mon Jul 16, 2018 1:04 pm
- Forum: Personal Consumer Issues
- Topic: Why own a bed?
- Replies: 140
- Views: 14072
Re: Why own a bed?
For real.There is nothing we don't talk about on this site.
- Sat Jul 14, 2018 7:20 am
- Forum: Personal Consumer Issues
- Topic: Is expensive olive oil worth it?
- Replies: 63
- Views: 10008
Re: Is expensive olive oil worth it?
I have a very sensitive soy allergy. Therefore I can detect if an olive oil was diluted with soybean oil or (more common) simply transported before packaging in shared containers. It's very common.
I use olive oil that's canned in the country of origin.
I use olive oil that's canned in the country of origin.
- Sat Jul 14, 2018 6:54 am
- Forum: Personal Consumer Issues
- Topic: Someone is using my cellphone number
- Replies: 21
- Views: 3330
Re: Someone is using my cellphone number
There is a scam where hackers will steal your cell phone number. That way they can use it to unlock your email and other accounts if you use two-step verification.
In your case, how did you call Best Buy? Hopefully you looked up their number and didn't call the number in the text. That's the only potential for scam I see here. Otherwise someone else probably mis-entered the cell number when they placed their order. The best strategy would have been to ignore the messages and not call back and give out your email.
Some cell phone providers now allow you to lock your account with a pin. AT&T lets you do this online. That helps prevent someone from calling the company and stealing (porting) the number by pretending to be you.
In your case, how did you call Best Buy? Hopefully you looked up their number and didn't call the number in the text. That's the only potential for scam I see here. Otherwise someone else probably mis-entered the cell number when they placed their order. The best strategy would have been to ignore the messages and not call back and give out your email.
Some cell phone providers now allow you to lock your account with a pin. AT&T lets you do this online. That helps prevent someone from calling the company and stealing (porting) the number by pretending to be you.
- Sun Jul 08, 2018 7:25 pm
- Forum: Personal Consumer Issues
- Topic: What do you pay for home services?
- Replies: 58
- Views: 5286
Re: What do you pay for home services?
Yes. And if you're renting, you could theoretically be paying for a cleaning service too. If you're renting a house, you may even be responsible for lawn mowing. We have owned our home for 20 years and have never paid for either service. We do both things ourselves.
- Sun Jul 08, 2018 4:25 pm
- Forum: Personal Consumer Issues
- Topic: Older Women Lifting Weights
- Replies: 203
- Views: 27813
Re: Older Women Lifting Weights
I am in my forties and haven't lifted weights in 20 years, although I have kept lightly active with sports, yoga, and elliptical. I have always had very weak upper body strength. I recently bought a few pairs of dumbbell and in three months have gone from 5 to 7 to 9 lb, planning to move soon to 12 lb. There is no shame in starting low. My arms are already feeling stronger and look more toned. I use the dumbbells twice per week. I aim for 3-4 days of cardiovascular, but don't always succeed.
- Sat Jun 23, 2018 3:40 pm
- Forum: Personal Consumer Issues
- Topic: Is Amazon Prime worth it?
- Replies: 146
- Views: 19555
Re: Is Amazon Prime worth it?
Yes. Ymmv
- Wed Jun 13, 2018 8:28 am
- Forum: Personal Consumer Issues
- Topic: Trade-up my $89 Walmart bike
- Replies: 44
- Views: 3881
Re: Trade-up my $89 Walmart bike
The Trek is a good choice. If you have an REI near you, look at their their bikes too.
- Tue Jun 12, 2018 7:05 am
- Forum: Personal Consumer Issues
- Topic: Chipmunk Repellent?
- Replies: 36
- Views: 4113
Re: Chipmunk Repellent?
We have the same problem. Killing them is illegal where we live. Will cayenne pepper kill or just deter them? Will it harm other wildlife like birds and rabbits?
- Fri Jun 08, 2018 4:14 pm
- Forum: Personal Consumer Issues
- Topic: good place to buy window curtains
- Replies: 9
- Views: 1468
Re: good place to buy window curtains
+1 for Country Curtains. Also happy with our more inexpensive IKEA curtains.
- Sun May 27, 2018 7:36 am
- Forum: Personal Consumer Issues
- Topic: Near commercial level treadmill
- Replies: 36
- Views: 5033
Re: Near commercial level treadmill
Another vote for True.
- Thu May 17, 2018 6:08 am
- Forum: Personal Finance (Not Investing)
- Topic: Mortgage decision killing me
- Replies: 52
- Views: 8459
Re: Mortgage decision killing me
30 year. Better to be conservative about this and pay extra as you go. The difference in rates is not enough to sacrifice that extra cushion and peace of mind.
- Mon May 14, 2018 6:29 am
- Forum: Personal Consumer Issues
- Topic: Inexpensive and comfortable outdoor patio furniture
- Replies: 9
- Views: 4645
Re: Inexpensive and comfortable outdoor patio furniture
We had good luck at Ace Hardware. The store gave us a great discount over the listed price. Basic black grated metal table and chairs. Light enough to move around and still comfortable. Six years old and still in good condition. If you spend on high end outdoor furniture the elements still take a toll, so this is one of those items that is best to look for decent quality but not at high-end stores. Yes teak is great but heavy and crazy expensive.
- Wed May 09, 2018 6:57 am
- Forum: Personal Finance (Not Investing)
- Topic: How to handle problem employee
- Replies: 84
- Views: 9081
Re: How to handle problem employee
That wouldn't be a TPS form, would it?
She sounds like she might have Aspergian tendencies. Although that doesn't really change things for you other than to understand it.
She sounds like she might have Aspergian tendencies. Although that doesn't really change things for you other than to understand it.
- Tue May 08, 2018 11:33 am
- Forum: Personal Consumer Issues
- Topic: Do you know anyone unhappy in a CCRC?
- Replies: 43
- Views: 7964
Re: Do you know anyone unhappy in a CCRC?
What is a CCRC?
- Wed May 02, 2018 9:13 am
- Forum: Personal Consumer Issues
- Topic: Have you quit eating sugar? Tell me how!
- Replies: 129
- Views: 17855
Re: Have you quit eating sugar? Tell me how!
Given how much you've cut out in other areas along with your hashimotos, the cravings could be your body's way of telling you that it needs more energy and you may have a nutritional deficiency/thyroid imbalance/autoimmune issue to address. I would not dismiss this as a simple sweet tooth.I'll pm you since this is veering into medical territory.
- Fri Apr 27, 2018 5:37 pm
- Forum: Personal Consumer Issues
- Topic: Amazon to raise Prime membership in US to $119 from $99
- Replies: 145
- Views: 16912
Re: Amazon to raise Prime membership in US to $119 from $99
I found that Amazon now has a big problem with counterfeit merchandise that I simply don't have to worry about when I shop with their competitors. It would be interesting to know how much of a problem this really is. I recently read a bunch of articles on this subject with plenty of anecdotal examples, but as a percentage of sales it's hard to know what it really means. I think some types of items are smart to avoid like athletic shoes, watches, handbags, cosmetics and supplements. Obviously you need to check the track-record of the third-party seller. But I have had really good luck with many third-party sellers so it's unfair to malign them all. In fact, often things arrive packaged better than directly from Amazon. I can think of one it...
- Thu Apr 19, 2018 8:10 am
- Forum: Personal Finance (Not Investing)
- Topic: Can I retire at age 40?
- Replies: 158
- Views: 27214
Re: Can I retire at age 40?
This thread is hilarious.
Make sure to save enough for the divorce that will come when your wife works as a teacher while you sit at home.
Not to mention the work ethic that you'll be instilling in your children.
Find a different job. The beauty of your position is that it can pay less, so you have options.
Make sure to save enough for the divorce that will come when your wife works as a teacher while you sit at home.
Not to mention the work ethic that you'll be instilling in your children.
Find a different job. The beauty of your position is that it can pay less, so you have options.
- Thu Apr 12, 2018 7:27 am
- Forum: Personal Consumer Issues
- Topic: Anyone tried a sunrise alarm clock?
- Replies: 55
- Views: 8130
Re: Anyone tried a sunrise alarm clock?
I can sleep in a fully lit room. After all my eyes are closed while I'm sleeping. In fact, I never bother fully closing the curtains since it makes no difference to me. I suspect the sunrise alarm only works for a certain type of person. We heavy sleepers need something a little more jarring.
- Mon Apr 09, 2018 7:06 am
- Forum: Personal Consumer Issues
- Topic: Is it very hard to learn Spanish?
- Replies: 81
- Views: 9479
Re: Is it very hard to learn Spanish?
LOL about the trimador.
The extent to which Spanglish is invading the language is stratospheric and quite entertaining, even in Spain where it's been less prevalent than in Latin America. A few years ago my young cousin from Spain kept "flipando" about things. I instinctively understood her, but when I called her on it she had no idea she was "flipping out" based on an English phrase. She also had studied English quite extensively but never made the connection. While it's true that Spanish has been historically more stable than English, that's noticeably started to shift since the advent of the internet.
The extent to which Spanglish is invading the language is stratospheric and quite entertaining, even in Spain where it's been less prevalent than in Latin America. A few years ago my young cousin from Spain kept "flipando" about things. I instinctively understood her, but when I called her on it she had no idea she was "flipping out" based on an English phrase. She also had studied English quite extensively but never made the connection. While it's true that Spanish has been historically more stable than English, that's noticeably started to shift since the advent of the internet.
- Fri Mar 30, 2018 1:57 pm
- Forum: Personal Consumer Issues
- Topic: 2018 Forester vs CRV vs RAV4
- Replies: 143
- Views: 24336
Re: 2018 Forester vs CRV vs RAV4
Uh no. I'll be keeping my own car. Somehow I don't think I'm the only one.
- Thu Mar 29, 2018 6:49 am
- Forum: Personal Consumer Issues
- Topic: 2018 Forester vs CRV vs RAV4
- Replies: 143
- Views: 24336
Re: 2018 Forester vs CRV vs RAV4
The 2019 Forester will have new front seats so that's something to look forward to testing. I don't love the current seats. It will be a bit larger and more powerful. No more turbo option. CarPlay included. The new facial recognition concerns me. Are there potential privacy implications? Can it be shut off?
- Mon Mar 26, 2018 10:11 am
- Forum: Personal Consumer Issues
- Topic: New car?
- Replies: 49
- Views: 5679
Re: New car?
I vote for new car. With the details you've given us (150,000 miles, other minor issues, wife who wants Pilot, children - safety features, AC - Texas) I think this is pretty much a no-brainer. The AC repair is not a cheap one. With the mileage on your car, I wouldn't put a lot of money into it.
This coming from someone who drives a 14-year Honda also. But mine has 116,000 miles and no other mechanical issues,functioning AC, and drives one adult to work off-highway for just a few miles each day.
Tell us what you think of the Pilot if you get one!
This coming from someone who drives a 14-year Honda also. But mine has 116,000 miles and no other mechanical issues,functioning AC, and drives one adult to work off-highway for just a few miles each day.
Tell us what you think of the Pilot if you get one!
- Tue Mar 20, 2018 6:59 am
- Forum: Personal Consumer Issues
- Topic: What kind of bike do I need and how much should I spend?
- Replies: 44
- Views: 4501
- Mon Mar 19, 2018 5:31 pm
- Forum: Personal Consumer Issues
- Topic: Stovetop Tea Kettle Recommendations?
- Replies: 36
- Views: 6262
Re: Stovetop Tea Kettle Recommendations?
This is so cool. It may be the winner. Thanks.URSnshn wrote: ↑Mon Mar 19, 2018 11:10 am A great glass tea kettle is https://store.moma.org/kitchen-dining/c ... a#start=22
The one caution - it is GLASS - so follow the directions and don't, when hot, put it on a cold surface, etc. You do have to watch this tea kettle (no whistle). And, if children, you might skip. It is one great tea kettle though and worth consideration for a number of reasons.
- Mon Mar 19, 2018 5:28 pm
- Forum: Personal Consumer Issues
- Topic: Stovetop Tea Kettle Recommendations?
- Replies: 36
- Views: 6262
Re: Stovetop Tea Kettle Recommendations?
Thanks for all the good ideas. The discoloration is annoying but has been there all along. The urgent problem is that it is malfunctioning and not shutting off or allowing itself to be shut off. If we stay with electric, I guess I will need to reset my expectations on how long such an appliance should last.
- Mon Mar 19, 2018 7:17 am
- Forum: Personal Consumer Issues
- Topic: What kind of bike do I need and how much should I spend?
- Replies: 44
- Views: 4501
Re: What kind of bike do I need and how much should I spend?
+1 hybrid. If you have an REI near you, they have good starter options. As do many other good bike shops. Used may not be the best option for you since you don't know what you are looking for. You could get a good bike for about $500.
- Mon Mar 19, 2018 6:45 am
- Forum: Personal Consumer Issues
- Topic: Stovetop Tea Kettle Recommendations?
- Replies: 36
- Views: 6262
Re: Stovetop Tea Kettle Recommendations?
But is there one that will last without malfunctioning or rusting? Even the glass ones have metal bottoms that rust. The ceramic ones chip and crack. And the electronics are cheap and not built to last. Our Cuisinart was top rated and we went through two of them (first replaced by the store for free) in three years.
A stove top will still rust eventually but less points of failure. Like refrigerators, it seems there is no model built to last unless you're willing to pay an insane amount (Simplex=Subzero) and even then reports from newer owners are that they are not what they used to be.
A stove top will still rust eventually but less points of failure. Like refrigerators, it seems there is no model built to last unless you're willing to pay an insane amount (Simplex=Subzero) and even then reports from newer owners are that they are not what they used to be.
- Sun Mar 18, 2018 9:50 pm
- Forum: Personal Consumer Issues
- Topic: Stovetop Tea Kettle Recommendations?
- Replies: 36
- Views: 6262
Re: Stovetop Tea Kettle Recommendations?
Our Creuset kettle rusted through last year. We found ourselves in a similar position - the search was far more complicated than expected. In the end we gave up and decided to give an electric kettle a try. We got the Cuisinart PerfecTemp Electric Kettle. Couldn't be happier with it. It has optimal temperatures for different kinds of teas, even French Press coffee. What a difference. I never want to go back to a stove-top one temperature fits all kettle. I guess there's a reason electric kettles are so popular in Great Britain where tea is so popular. Two years after I wrote this, the electric kettle is failing. Going back to stove-top. Doesn't look like the available options have improved. Any updates from satisfied/dissatisfied users? I'...
- Sat Mar 17, 2018 10:12 am
- Forum: Personal Consumer Issues
- Topic: 2018 Forester vs CRV vs RAV4
- Replies: 143
- Views: 24336
Re: 2018 Forester vs CRV vs RAV4
On paper, the CR-V. If you test drive it and enjoy it, it provides the best combination of quality, reliability, and features. Has CarPlay.
In practice, I prefer the seats and handling of the Forester but will not buy it until they add CarPlay, hopefully in 2019.
I'm not big on technology in cars, but at this point think it's short-sighted to buy a new car without CarPlay.
In practice, I prefer the seats and handling of the Forester but will not buy it until they add CarPlay, hopefully in 2019.
I'm not big on technology in cars, but at this point think it's short-sighted to buy a new car without CarPlay.
- Fri Mar 09, 2018 8:48 am
- Forum: Personal Consumer Issues
- Topic: Need Help Solving A House Smell Mystery
- Replies: 50
- Views: 15085
Re: Need Help Solving A House Smell Mystery
Our first house had an unusual smell. Turned out to be the DIY refinishing job the previous owners did on the hardwood flooring. Went away once we had the floors professionally redone.
- Mon Mar 05, 2018 7:03 am
- Forum: Personal Finance (Not Investing)
- Topic: AmEx Delta Gold is now Honoring Bonus
- Replies: 87
- Views: 13243
Re: AmEx Delta Gold Not Honoring Bonus
That's too bad this happened to you. It isn't the norm though. We use our Amex BCP at a variety of grocery stores, including a few local mom-and-pop stores, and it always counts as grocery.willthrill81 wrote: ↑Sun Mar 04, 2018 10:41 am I'm not a fan of AMEX if it involves bonuses. A couple of years ago, we applied for one of their bonus cards that would supposedly give us 6% cash back on grocery purchases. Before we took out the card, we specifically asked one of their reps if our local grocery store would qualify for this, and they said that it would. We later found that to be completely wrong, which meant that we got no benefit from the card at all, and AMEX wasn't interested in doing anything about it.
- Sun Mar 04, 2018 6:36 am
- Forum: Personal Consumer Issues
- Topic: Bathroom remodel decision
- Replies: 41
- Views: 3357
Re: Bathroom remodel decision
If you have a clear preference, you should get what you like.
If you're on the fence, a double sink is a great selling feature. We added one to our master bathroom in our first home in a neighborhood where they are not common. We kept the shower size as it was. The bathroom was a huge success when we sold. But we made the decision based on our preference, not based on selling.
If you're on the fence, a double sink is a great selling feature. We added one to our master bathroom in our first home in a neighborhood where they are not common. We kept the shower size as it was. The bathroom was a huge success when we sold. But we made the decision based on our preference, not based on selling.
- Mon Feb 26, 2018 11:21 pm
- Forum: Personal Consumer Issues
- Topic: Amazon Prime Visa now 5% back at Whole Foods
- Replies: 30
- Views: 4168
Re: Amazon Prime Visa now 5% back at Whole Foods
In our case we reach the $6k Amx BCP cap in 6-7 months.
Assume another $5k spend at WF for the rest of the year. Just the 2% difference over the 3% back the basic Amazon card gives pays for the Prime fee. Then we get all other benefits of Prime on top of that.
Assume another $5k spend at WF for the rest of the year. Just the 2% difference over the 3% back the basic Amazon card gives pays for the Prime fee. Then we get all other benefits of Prime on top of that.
- Mon Feb 26, 2018 7:19 pm
- Forum: Personal Consumer Issues
- Topic: Amazon Prime Visa now 5% back at Whole Foods
- Replies: 30
- Views: 4168
Re: Amazon Prime Visa now 5% back at Whole Foods
I'm not suggesting anyone change their shopping habits. But for those of us who already shop at WF, it's great.