Re:“Let’s have some fun I’m offering two grants of $5,000 fo...
by sokoloff on Tuesday April 04, 2017 @11:44PM
(#14039494)
The gift tax is accounted for by the giver, not the recipient, and is per-(donor, recipient) pair.
Person A can give persons C and D $14K each and that all falls under the annual exemption. Persons A and B can together give person C $28K and person D $28K and still be within the exemption (2 spouses giving to 2 kids is a common example).
Person A can give persons C and D $14K each and that all falls under the annual exemption. Persons A and B can together give person C $28K and person D $28K and still be within the exemption (2 spouses giving to 2 kids is a common example).