My Tax Question

unknown unknown at library.ucsb.edu
Tue Jan 9 19:58:04 EST 2001


Hello! I am a Senior at a University and just recently
          became U.S. Perm. Resident. My Grandfather, who works at the
WHO
          in Geneva, Switzerland and is thus a tax-exempt international
employee,
          is giving me money to pay for my tuition, living expenses,
etc. We have
          set up an account at a Credit Union in the U.S. on which he is
the
          primary owner and I am the attorney-in-fact. Every 3 or so
months I
          transfer the amount that I need for the quarter from his
tax-exempt
          account to my normal account, also in the U.S., by writing
myself a
          check against his account (since I am attorney-in-fact on his
account, I
          am allowed to do that.) My question is: do I have to pay any
income
          taxes on the funds that I transfer to my account? Also, would
it be
          better in the tax sense for him to directly pay for my tuition
and living
          expenses out of his account, without the money going through
my
          account?

          Thanks!


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