Annual exclusion - Definition

The maximum Amount that an individual is allowed to give another person without incurring Federal gift tax. The current annual exclusion is $11,000 per year per recipient. There is no limit on the number of these gifts you can make to different people in a year. While the recipient can make use of the gift immediately, the donor must not have any control over the asset after it is given.

Terms near "Annual exclusion"

Annual meeting
Annual mortgagor statement
Annual Percentage Rate
Annual Percentage Yield
Annual reports
Annual returns
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