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If the internal revenue service decides that pain and suffering is not valid, the particular amount received by the donor might be considered a gift. Currently, there is a gift limit of $10,000 12 months per person. So, it may be best to pay/receive it over a two-year tax timetable. Likewise, be sure a check or wire transfer comes from each man. Again, not over $10,000 per gift giver each and every year is possibly deductible.

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