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  • Re: Will I or the giver have to pay any taxes on money gifted to me in excess of $15,000 (closer to $60k)? Federal, state(PA), or local? From mom via dad's life insurance.
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Retirement tax questions

As the receiver of the gift you have NO tax issues or responsibilities.   The giver may need to file a gift tax return form 709. 

 


See https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax-Made-Simple/...

 

‎December 7, 2020 1:37 PM
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