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Cash Gift made to Son and his family
To help my son and his family deal with medical equipment and expenses associated with their son(my grandson), I pulled about $75k from one of my IRAs. I had federal tax taken at time of withdrawal. This was a cash gift that I do not want to affect my average income calculations going forward or adversely affect tax revenue. What documentation will I need?
March 12, 2025
1:11 PM