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    Description and Reasons for Gift Tax

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    What is gift tax and why do we have it? Should we have gift tax?

    © BrainMass Inc. brainmass.com June 4, 2020, 4:56 am ad1c9bdddf

    Solution Preview

    The gift tax is a tax that goes into effect when something is sold it given away and the tax occurs on the item or ...

    Solution Summary

    A detailed and specific explanation of gift tax is provided along with the reasons for it.