Wow! Great information! It's interesting to learn that you can actually be taxed (on already taxed money) for giving money to individuals. I'm not sure what the benefits are of telling the IRS that you gave a gift, ever, especially if there is a lifetime Estate Tax exclusion. I'll be sure to read up on Form 709 to try to pinpoint the reason for ever using the form.I appreciate your propmt reply AND the great information!!!!
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