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Bookmark or Share- Gift Tax: 2024-2025 Limits, Exclusion Amounts - NerdWalletGift tax is a federal tax on the transfer of money or property to another person. Thankfully, because of annual and lifetime limits, few people end up owing it.
- How to gift money to children, family, and loved ones | FidelityBecause gifting is irrevocable, it’s important to ask yourself: How does gifting fit into my overall financial picture and financial health? Does it make sense to give up this money? Could it cause financial struggles or issues in the future?
- Gift Tax: What It Is and How It Works - InvestopediaWhat Is the Gift Tax? The gift tax is a federal tax imposed by the Internal Revenue Service (IRS) on taxpayers who transfer money or property to someone else without receiving anything of...
- Gift tax - Internal Revenue ServiceThe gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether or not the donor intends the transfer to be a gift. The gift tax applies to the transfer by gift of any type of property.
- Frequently asked questions on gift taxes - Internal Revenue ServiceFind common questions and answers about gift taxes, including what is considered a gift, which gifts are taxable and which are not and who pays the gift tax.
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