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Deductions & credits
One thing you haven't mentioned is how their business is set up. Do they file a separate business return for it or on Schedule C included in their personal return. It might make a difference. Maybe they should just give you a gift and not deal with it on anyone's tax returns. They could each give you 16,000 without triggering a gift tax return.
‎November 21, 2022
5:44 PM