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| *Business questions>>>Taxes Questions |
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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