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Gifting to an employee
When gifting to an employee a property valued at $300,000, are there other tax issues besides filling out a gift tax return?
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The employer would gift the property at the employer's basis so no gain. It does, however, look as though this is a wage bonus and not a gift for Form 709. Everyone's responses are greatly appreciated.
But if the property is worth more than its book value, he has a gain to report. He can’t choose to report it at book value.
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