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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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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