annual exclusion gift
- A present that doesn't attract federal gift tax as it falls within the set monetary limit allowed each year
- She gave each of her five grandchildren an annual exclusion gift, taking advantage of the tax-free limit.
- His generosity exceeded the allowed annual exclusion gift, resulting in a taxable event.
- The couple gifted several annual exclusion gifts to their family members, wisely keeping under the tax radar.
Provide Feedback
