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Harrizon [31]
3 years ago
5

When would you have to pay a gift tax?

Social Studies
1 answer:
natulia [17]3 years ago
3 0

The giver must file a gift tax return, showing an excess gift of $6,000 ($20,000 – $15,000 exclusion = $5,000). Each year, the amount a person gives other people over the annual exclusion accumulates until it reaches the lifetime gift tax exclusion.

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