Agent

Must tax be paid on $1 million property gift?

Answer depends on whether exemption limit has been exceeded
Published on Aug 30, 2007

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DEAR BOB: Who pays the taxes on a once-in-a-lifetime, $1 million property gift? –John L. DEAR JOHN: Nobody! When an individual donor gives away up to $1 million in cash or other assets, he or she must file a federal ...

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