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Hindus give Diwali and Pongal gifts to family and friends. Rakhi or Raksha Bandhan is another occasion where brothers give gifts to sisters. Muslims give gifts to family and friends, known as Eidi, on Eid al-Fitr and on Eid al-Adha. Greek Orthodox Christians in Greece, will give gifts to family and friends on the Feast of Saint Basil. Learn more about scams using eBay gift cards and how to report them. Keep the eBay gift card itself and your receipt for the eBay gift card.
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While recipients don’t face any immediate tax consequences, they may have to pay capital gains tax if they sell gifted property in the future. As a leading gift card company, we feature options from popular national brands. Our offerings include Visa, Mastercard, Walmart, Home Depot and iTunes. Whether the person for whom you’re buying needs some essential items or something more fun, we have you covered.
But remember, you don’t have to pay gift taxes until someone exceeds their lifetime exemption. The caller usually tells you which gift card to buy. They might say to put money on an eBay, Google Play, Target, or iTunes gift card.
They might send you to a specific store — often Walmart, Target, CVS, or Walgreens. Sometimes they say to buy cards at several stores, so cashiers won’t get suspicious. And, the caller might stay on the phone with you while you go to the store and load money onto the card. Someone might ask you to pay for something by putting money on a gift card, like a Google Play or iTunes card, and then giving them the numbers on the back of the card. If they ask you to do this, they’re trying to scam you.