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What is Generation skipping tax?

 
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What is Generation skipping tax?

These are taxes you have to pay when you're given a large gift by a relative other than your parent. If you paid these taxes, you can deduct them as long as you include the value of the gift in your taxable income.

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New Member

What is Generation skipping tax?

These are taxes you have to pay when you're given a large gift by a relative other than your parent. If you paid these taxes, you can deduct them as long as you include the value of the gift in your taxable income.

View solution in original post