Wolf:
That is why I was careful write “when receiving…”. The gift and estate tax is on the giver.
The amount you are referring to is 13k, and it is only taxed once it exceeds the lifetime cap of (currently) 1 million,
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Wolf:
That is why I was careful write “when receiving…”. The gift and estate tax is on the giver.
The amount you are referring to is 13k, and it is only taxed once it exceeds the lifetime cap of (currently) 1 million,