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Renee Arnold
10 January, 12:14
When would you have to pay a gift tax?
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Talon Hodges
10 January, 15:24
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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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