Birdwatch Note Rating
2023-05-06 01:53:31 UTC - HELPFUL
Rated by Participant: 0B70AB26A47309B351601D5BD085BD911E6472CD32F97C97A9905CAC7979A7A6
Participant Details
Original Note:
The IRS makes it clear that reporting and paying gift taxes is the responsibility of the donor (person making the gift), not the recipient of the gift. https://www.irs.gov/pub/irs-news/at-01-31.pdf https://www.irs.gov/faqs/interest-dividends-other-types-of-income/gifts-inheritances/gifts-inheritances-1 Tuition payments are exempted from gift taxes by federal law - 26 USC ยง 2503(e)(2)(A) https://www.law.cornell.edu/uscode/text/26/2503
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