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NEO Kids Foundation GIFT OF PUBLICLY TRADED SECURITIES (FOR SECURITIES, MUTUAL FUNDS AND BONDS)Please note that NEO Kids Foundation is unable to issue a tax receipt until we are aware of and have
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Give a gift of refers to the process of transferring ownership of a gift from one person to another, which may have tax implications under the IRS gift tax regulations.
Individuals who gift more than the annual exclusion amount ($17,000 for 2023) to any single recipient must file a gift tax return (Form 709) to report the gift.
To fill out a gift tax return, complete IRS Form 709 by providing information about the donor and recipient, the value of the gift, and any applicable deductions or exclusions.
The purpose of filing give a gift of is to report gifts that exceed the annual exclusion limit and to ensure compliance with gift tax regulations.
The information that must be reported includes the names and addresses of the donor and recipient, the date of the gift, a description of the gift, and the fair market value of the gift.
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