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Donation Forms gift of is for Barrow Neurological Foundation(amount)These funds are restricted to use by laboratory of Dr. BeloozerovaDonor information:Your name Street address City, state, zip Phone
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The 'gift of is' refers to the act of giving a monetary or non-monetary gift that may be subject to taxation under gift tax laws.
Individuals who make gifts exceeding the annual exclusion limit set by the IRS are required to file a gift tax return.
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The purpose of the gift tax is to tax the transfer of wealth from one individual to another, thereby preventing individuals from avoiding estate taxes by gifting their assets during their lifetime.
The information that must be reported includes the donor's and recipient's details, the description and value of the gifts, any related deductions or exclusions, and any prior gifts within the same year.
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