Tax-Free Gifts for Family
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gift taxSmartAsset
•The gift tax is a hybrid tax on gifts and other transfers. It partially overlaps with the estate tax. Here’s how it works
74% Informative
The gift tax is a hybrid tax on gifts and other transfers.
In 2025 , you can give away up to $19,000 to each recipient without needing to report it to the IRS .
You can give another $13.61 million tax-free throughout your lifetime.
For help navigating the complications of gift tax laws, consider consulting with a fiduciary financial advisor.
The lifetime exclusion is a shared exclusion for gifts and estates.
During your lifetime, you can make any amount of gifts tax-free to the amount you have remaining in your lifetime exclusion.
Gifts and estates are taxed at between 18% and 40% depending on the amount in question.
Each year the IRS allows you to give an amount tax-free to any number of recipients.
Over your lifetime you can give away more than $13 million without paying any taxes on it either.
The gifts and estate tax is a hybrid tax on unilateral transfers.
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