You are correct as to the value of the gift. Gifts of over $14,00 per person per year must be reported to the IRS, but are not subject to taxation until you have given more than the federal gift tax exemption amount, which is currently $5.49 million.
You are correct as to the value of the gift. Gifts of over $14,00 per person per year must be reported to the IRS, but are not subject to...
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