How much is the gift tax?Gifts subject to the gift tax. The following gifts are considered to be taxable gifts when they exceed the annual gift exclusion amount of$14,000 in 2014. Remember, taxable gifts count as part of the $5.34 million in 2014 you are allowed to give away during your lifetime, before you must pay the gift tax.
How much is the gift tax?
Gifts subject to the gift tax. The following gifts are considered to be taxable gifts when they exceed the annual gift exclusion amount of$14,000 in 2014. Remember, taxable gifts count as part of the $5.34 million in 2014 you are allowed to give away during your lifetime, before you must pay the gift tax.
That's what comes up when you google gift taxes. Good post. Just wanted to clarify and update. Main difference is it's 5.34 million over a lifetime, not 5.43. Not a big deal, and no way most any of us will ever gift anywhere near that amount over a lifetime, let alone even make that much over a lifetime. But just to slightly clarify this post, as I will be having to file this year for over-gifting, I found this post useful. thanks.