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Level 1
posted Nov 16, 2022 9:26:24 AM

$16,000 gift exclusion

I know you can give anyone a gift of $16,000 per year but can you gift that amount to an irrevocable trust inwhich I am the trustee?

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1 Replies
Level 15
Nov 16, 2022 9:30:51 AM

Who is/are the beneficiary/beneficiaries?

 

A gift in trust is deemed to be a gift to the beneficiaries.