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Form of account of collection of property (other than money) given away, used or collected for giving away Surname of Chief Promoter: Other Names: Address of Chief Promoter: Purpose of collection

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What is property given away?

Property given away refers to assets or belongings that are transferred or donated to another person without receiving any form of payment or compensation in return.

Who is required to file property given away?

Individuals who have given away property worth more than a certain threshold set by tax authorities are required to file property given away when filing their tax returns.

How to fill out property given away?

Property given away can be filled out by providing details of the property transferred, the recipient's information, and the fair market value of the property at the time of transfer.

What is the purpose of property given away?

The purpose of filing property given away is to account for any potential gift tax liabilities that may arise from the transfer of property to another individual.

What information must be reported on property given away?

The information that must be reported on property given away includes a description of the property, the recipient's name and relationship to the donor, the fair market value of the property, and the date of transfer.

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