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  • Pr Form As 2907.1 2018

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Government of Puerto Rico Department of the Treasury INTERNAL REVENUE AREAOFFICIAL USE Negotiate de Procesamiento de Planillas o Negotiate de Service all ContribuyenteREQUEST FOR COPY OF THE RETURN,.

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Currently, there is a 10% tax on property transferred by gift or inheritance that is not subject to exemption. Recipients of property that is subject to gift or inheritance taxation may increase their tax basis by the fair market value of the property at the time of the transfer.

In Puerto Rico the estate tax ranges from 18-50% of the net taxable value of any property you inherit. If your deceased loved one was a resident of Puerto Rico, this applies to all property. If not, it only applies to property owned in Puerto Rico.

Act 76 eliminates the 10% tax on transfers that occur after December 31, 2017, for both residents and nonresidents of Puerto Rico.

Generally, if you are a Puerto Rico bona fide resident, you must file a Puerto Rico tax return. If you are not a bona fide resident of Puerto Rico, you must file both a Puerto Rico tax return and a U.S. tax return. If you are a member of the United States Armed Forces, special tax rules may be applied.

The gift tax limit is $16,000 in 2022 and $17,000 in 2023. The gift tax rates range from 18% to 40%. The gift giver is the one who generally pays the tax, not the receiver.

U.S. citizens who acquired their U.S. citizenship outside of Puerto Rico are subject U.S. federal estate tax or gift tax on their worldwide assets. Puerto Rico also has a gift tax and an estate tax. Puerto Rico is a forced heirship and community property jurisdiction.

The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether or not the donor intends the transfer to be a gift. The gift tax applies to the transfer by gift of any type of property.

The Puerto Rico rates for gift tax and the estate tax are the same, 10% of the taxable amount. The gift tax return is due on or before January 31 of the year following the year of the gift. A three-month extension to file is available upon request.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232