annual exclusion


Definition
The maximum amount that a person is allowed to give another person without incurring Federal gift tax. The current annual exclusion is $11,000 per year per recipient. There is no limit on the number of these gifts you can make to different people in a year. To qualify, a gift must be of a "present interest," meaning that the recipient can make use of the gift immediately, and the donor must not have any control over the asset after it is given.

Related Personal Finance Articles

Loading...

annual exclusion in the news

Loading...

annual exclusion is ...

... part of the Taxes subject.

Search volume for annual exclusion

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z