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Investors & landlords
@pw7 wrote:
........I just have to file the gift tax return and it counts toward my $11M lifetime exclusion. Is that correct? So there is no tax owed just a filing requirement?
Exactly. There is no gift tax owed until you surpass the lifetime exemption; only a filing requirement if the gift exceeds $15,000 from you to any one individual.
‎October 19, 2021
11:55 AM