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Deductions & credits
Thank you for your reply, I just have few more questions if you could help me.
1. So it would just go under "cost of purchases" under 2024, right?
2. Since you mentioned that it was essentially a "gift," would I need to file some kind of gift tax form once the amount goes over $18,000 (which is the 2024 annual gift tax limit)?
Thank you.
‎April 11, 2025
10:33 AM