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Reply to "Gifting $24,000 car to son—Gift tax exclusion "
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[quote=Anonymous][quote=Anonymous]Unless your estate is worth more than the current lifetime exclusion of $13.99M it’s unlikely you’ll pay any gift taxes. You’ll still have to file a gift tax return.[/quote] Some of us will have that issue, so it is relevant. Also, unless congress acts by 12/31/25, that $13.99M will sunset to ~$5.5M, so many more might have a problem [/quote]
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