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What Is the Gift Tax?

By Adam Levy – Updated Nov 20, 2024 at 1:23PM

Key Points

  • Gifts over $19,000 to an individual in 2025 must be reported to the IRS.
  • Exceeding the $13.99M lifetime gift tax exclusion starts the taxable gifts count.
  • Implement gift splitting or use trusts to avoid lowering the lifetime exclusion.
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