Gift Tax � 2021

Finn Kevin11 May, 2022Business

There is no dollar limit on the amount that one person is allowed to give to another. Gift tax rules do not prohibit a donor from making gifts in excess of the annual exclusion ($15,000 for 2021). However, if more than the annual exclusion is given to any one recipient, other than a spouse or charity, the amount over the annual exclusion is considered a ?taxable gift.?