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The $500 from your aunt at Christmas is NOT taxable. (Unless, of course, you're in a rich family and she already gave you the $11,000 tax-free any one person can give any other each year.)
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The $500 from your aunt at Christmas is NOT taxable. (Unless, of course, you're in a rich family and she already gave you the $11,000 tax-free any one person can give any other each year.)