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| Topic | A brief guide to American taxation, and specifically gifting. |
| Sunhawk 07/22/18 2:25:11 PM #1: | Any individual can receive a gift up to the federal gift-tax exclusion amount, which is $14,000 per year for tax years 2015-2017, without having to report the gift or the donor having to pay tax on it. The gift-tax exclusion goes to $15,000 for 2018. The exclusion applies per gift, not to the total of gifts given. https://www.moneycrashers.com/gift-tax-rate-rules-exclusion-limit/ You can gift huge amounts, but you have to pay taxes, which most people wouldn't want to do. Oh, and just so we're clear, $1,000,000 > $15,000. --- It has been 0 days since something interesting happened. A three hour tour, a three hour tour... ... Copied to Clipboard! |
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