Most households don't have to worry about the gift tax. For 2025, you can give up to $19,000, per person, to as many people ...

Understanding the gift tax and its limits is crucial when planning your financial gifts, whether for family, friends or others. The IRS sets specific guidelines each year for how much you can give ...

If you give above this amount to a single person, you must report the excess gift on Form 709 when you file your taxes. Keep in mind that everyone has both a lifetime exemption and annual ...