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Financial Planning / Tax Strategies


Subject:  Re: gift tax Date:  6/9/2013  2:30 PM
Author:  op456op Number:  118663 of 134934

But she would have to pay gift tax on the remaining $16K, right?

Right. That's the per person limit. She could give her son & wife and/or grandchildren $14K each. In essence she can give everyone she wants $14K without incurring a gift tax but any amount over that to any individual I believe would incur the gift tax.
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