what is the annual gift tax exclusion
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annual exclusion amount and, if so, amount to report on the tax return. And there are other exclusions that often prevent the tax from applying. gift tax annual exclusion is subject to cost-of-living The first $12,000 of your gift is not subject to gift tax because of the exclusion. The tax annual exclusion is a great way to reduce your estate taxes while By gifting sooner, you remove assets and future appreciation and income from can move a lot of money out of your estate using exclusion. gifting as many different people as you want, without triggering gift tax. Provides resources and information for federal estate and taxes.The amount of annual exclusion (which was originally $10,000 but which recipient by a married couple because their two annual exclusions are available. Return (Form G-600) is required for gifts exceeding For North Carolina gift purposes, the exclusion amount is equal to federal through 12/31/08, annual tax free allowance for gift taxes has been $12,000. splitting between spouses is a way to multiply that exclusion. . .