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Question 3 Not yet answered Which of the following statements is incorrect? Answer saved Points out of Select one: 1.00 a. If

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Answer #1

The incorrect statement in the question is :

Option d. When the recipient of a gift receives the gift she will pay gift taxes upon receipt of the gift.

This statement is purely wrong because, there is no rule saying like that.

However, in some countries there is limit for the amount of tax-free gift received by a person. If the person exceed the limit he/she is liable for tax payment.

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