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Get your taxes done using TurboTax
"He wants the account split between 7 heirs. Is there a gift tax if it is greater than $15,000?"
With respect to gifts, and as an addendum, a gift tax return would be required if the value (dollar amount) of the gift exceeded $15,000 to any one donee.
See https://www.irs.gov/instructions/i709#idm140554828343488
‎October 21, 2020
8:15 AM
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