Submitted by yjlevg t3_1004w05 in personalfinance
SkelterHelter68 t1_j2fk90m wrote
There is never a "gift tax" to the receiver, even though it is a common misconception.
There *could be* a tax consequence to the giver, depending on their overall lifetime gifting amounts, but since everything is part of a trust, it's even more complicated than that because the trust has its own EIN and tax filings.
You probably need to talk to a CPA or estate planning attorney.
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