“For documentation, it’s important to keep ... Capital Gains Tax May Apply to Gifts Accruing Value The gift tax can apply to both cash and noncash gifts. If you receive a noncash gift, you ...

How long should you store tax returns, statements, and supporting documents? Learn about the IRS records retention ...

Gift tax rates range from 18% to 40% of the taxable ... Make sure to provide a letter or other documentation stating that this is a gift, not a loan or other form of ongoing interest.

Gift-tax planning is already complicated enough ... Between firming up valuations, addressing family goals, and drafting documents, gift-planning strategies can take months to put in place and ...

The IRS announced a higher estate and gift tax exemption for 2025. The "basic exclusion amount" rises to $13.99 million for ...