Tim Gave His House In Another City To His Sister. He Had To Pay Taxes To The Government On This Transfer. What Type Of Tax Did The Government Levy?

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Tim Gave His House In Another City To His Sister. He Had To Pay Taxes To The Government On This Transfer. What Type Of Tax Did The Government Levy?. Tim gave his house in another city to his sister. The gift tax is tax.

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Tim gave his house to his sister without receiving any payment in return. In the scenario where tim gave his house to his sister and had to pay taxes on this transfer, the type of tax levied by the government is a gift tax. What type of tax did the government levy?

He Had To Pay Taxes To The Government On This Transfer.


This is considered a gift. What type of tax did the government levy? The gift tax is tax.

Tim Gave His House In Another City To His Sister.


A gift tax is imposed on the. What type of tax did the government levy? A gift tax is imposed by the government on the transfer of property.

Tim Gave His House To His Sister Without Receiving Any Payment In Return.


He had to pay taxes to the government on this transfer. What type of tax did the government levy? In summary, tim's transfer of the house to his sister, where he had to pay taxes, is classified under the gift tax rules.

Tim Gave His House In Another City To His Sister.


Identify the type of tax levied by the government when tim transfers or gave his house to his sister. He had to pay taxes to the government on this transfer. In the scenario where tim gave his house to his sister and had to pay taxes on this transfer, the type of tax levied by the government is a gift tax.

Therefore, The Correct Answer Is Option C.


Tim gave his house in another city to his sister.

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