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 ...

These taxpayers must always file a gift tax return, known as Form 709. Gifts that are exempt from gift tax You generally don't need to file a gift tax return for: When do you need to file a gift ...

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 ...

For 2012, each taxpayer has a credit to cover the gift tax on up to $5.12 million in gifts ... If you exceed the annual limit, though, you must file a Form 709 with the IRS to keep track of ...

A Crummey Trust is an irrevocable trust that allows someone to provide financial assets to beneficiaries without reducing the former's lifetime gift tax exemption amount. By transferring assets ...

The TCJA provides for an estate and gift tax lifetime exemption of $13.61 million ... to whom or in what form (e.g., should your children receive cash or a portion of the family business?

Like the related estate tax, the gift tax is paid by the giver, not the recipient. In order to report taxable gifts, you would file Form 709 with your annual taxes. The gift tax brackets range ...