this post was submitted on 30 Oct 2024
60 points (95.5% liked)
InsanePeopleFacebook
2606 readers
176 users here now
Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The funny thing is, the gift wouldn't be taxed anyway. It's certainly valued less than the multi-million-dollar federal lifetime gift tax exemption (and no state has an exemption under 1 million, either)
There's a yearly limit for gifts at $18k in 2024.
True, but anything over that just counts toward estate tax, which has the aforementioned exemptions.