Gift Tax

How Much Can I Give Away Before I Have to Pay Gift Tax?


Because the estate and gift tax “exemption” is now indexed for inflation, it keeps rising and changes almost every year.  For 2019 the estate and gift tax exemption is $11.4 million per individual.  So, a taxpayer can make $11.4 million of taxable gifts without incurring a gift tax liability.  This amount is cumulative, so all taxable gifts made during a taxpayer’s lifetime are counted and anything over the exclusion amount will require payment of gift taxes.

This is not to be confused with the annual exclusion.  Gifts qualifying for the annual exclusion do not count toward the gift tax exemption.  The annual gift tax exclusion for 2019 is $15,000.

– Mark S Gleason CPA


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