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UTman

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  1. UTman
    Any consequence of not filing a gift tax return form 709 in this scenario? Friend gifted me $750k cash in October 2022. This was their first time giving gift over annual exclusion. Their estate will probably be under lifetime exclusion, but all will go to a 501c anyway. Any consequence of them not filing the information return for the $750k gift? I know it’s their problem and not on the one receiving the gift, but just trying to understand.

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