Birdwatch Note Rating
2023-05-05 21:04:41 UTC - HELPFUL
Rated by Participant: 77FB4BBE1A619AC7C187B60AF049A7EFAC577C0A9699324A0154E44C76227ABB
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
All Note Details