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"I received a gift from a family trust."
Gifts are generally not taxable to the recipient. However, since the gift originated from a trust, you might want to contact the trustee (administrator) of the trust to ensure you will not be getting a tax reporting statement (e.g., Schedule K-1).
"I received a gift from a family trust."
Gifts are generally not taxable to the recipient. However, since the gift originated from a trust, you might want to contact the trustee (administrator) of the trust to ensure you will not be getting a tax reporting statement (e.g., Schedule K-1).
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