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Do I pay tax on gifts that I take overseas?


Question:
I bought Christmas gifts for my family in South africa. Will I have to declare them and will I have to pay tax on them?

Answer:
You pay gift tax using form 709, due by April 15th, on gifts that have a value greater than $12,000 per individual. Unless you are extremely extravagent I would doubt that you are spending $12,000 or more per person for Christmas gifts.
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