Re: Gift tax question
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100% sure on that? And is there a limit?
Hypothetically if I received 100K in 2006 from someone, I don't have to do ANYTHING about it in regards to the IRS.
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Yes, I am sure. If you hypothetically gave me more than $12K of your gift, you have to file a form (but not pay any tax) and I have to do nothing.
-Tom
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