If you give someone cash or property valued at more than the 2023 annual exclusion limit of $17,000 ($34,000 for married joint filers), you'll have to fill out Form 709 for gift tax purposes. But ...
• Internal Revenue Service issues instructions for Form 709—On Nov. 16, 2016, the Internal Revenue Service released the Instructions for Form 709, the gift and generation-skipping transfer (GST) tax ...
Image source: asenal29, Wikimedia Commons. Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you ...
Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules.
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