annual exclusion amount
- A yearly limit set by the IRS, adjusted for inflation, that anyone can gift to a recipient without triggering a federal gift tax
- Her financial planner advised her to stay within the annual exclusion amount to avoid the gift tax.
- The couple efficiently managed their wealth by utilizing the full annual exclusion amount for their grandchildren.
- The IRS announced the increase in the annual exclusion amount which will potentially lower the taxable estate.
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