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In the U.S., gifts are generally not taxable to the recipient. However, the giver may be subject to gift tax if the amount exceeds the annual exclusion limit, which is $17,000 per recipient for 2023. Gifts above this threshold may require the giver to file a gift tax return, but they can often use their lifetime gift tax exemption to avoid actual tax liability. It's always advisable to consult a tax professional for specific situations.
What else can I help you with?
What is the cost of a airplane?
Airplanes are available from a few thousand dollars into many millions.
Difference between Mercedes classic und elegance?
A few thousand dollars.
What does a french horn cost?
A good one costs a few thousand dollars.
How much did a car cost in 1997?
It depends on what car, if it was new or used or which country. Prices ranged from only a few thousand dollars to a few million dollars.
Price for a 2004 transmission f150 5.4liter rebuilt?
a few thousand dollars that all
How much is a Burberry diaper bag?
This entirely depends on where you purchase it from. The cost of a Burberry diaper bag can run anywhere from a few hundred dollars, to a few thousand dollars.
What exactly does small loans mean?
A small loan is an amount that can be anywhere from a few hundred dollars to a few thousand dollars. These loans can range from personal to business loans.
What are some places with gift card specials?
I know that stores like walmart and walgreens typically sell the gift cards at a few dollars discount. like a 50 dollar card you can get for 45 dollars.
What are sports illustrated swimsuit models paid?
It depends but usually between a few thousand to a few hundred thousand dollars if the models aren't as well known and much more for supermodels.
How much do cats cost in the US?
You can get one for free or pay up to a few thousand dollars.
What price would Mars be if it were for sale?
the price could range from around a few thousand or a few billion dollars if it were ever for sale
How much did guns cost in the 1930s?
a few dollars to a few thousand. How much did a car or house cost? depends on the type or size.
