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Receive 1 million in cash gift do i have to file taxes

1 Answer

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Answer:

Gift tax is not an issue for most people

Step-by-step explanation:

The person gifting files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2020), the giver must file a gift tax return.

User Hauke Mallow
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