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Gift Tax Heads Toward Cliff

Fri 14 Dec 12 | 07:25 PM ET
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Gift Tax Heads Toward Cliff

Fri 14 Dec 12 | 07:25 PM ET
Currently, couples can give away $10 million in lifetime gifts without paying transfer taxes, but President Obama has now proposed that couples be limited to $1 million in gifts, and any additional gifts be taxed at 55 percent. CNBC's Robert Frank has the details.
 
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