Sentences with phrase «gift tax exclusion by»

Not exact matches

Making a split gift allows you to take advantage of your annual gift tax exclusion plus your spouse's exclusion for a gift that is made entirely by you.

By accelerating use of the annual gift tax exclusion, a grandparent — as well as anyone, for that matter — could elect to use five years» worth of annual exclusions by making a single contribution of as much as $ 75,000 per beneficiary in 2018 (or a couple could contribute $ 150,000 in 2018), as long as no other contributions are made for that beneficiary for five yearBy accelerating use of the annual gift tax exclusion, a grandparent — as well as anyone, for that matter — could elect to use five years» worth of annual exclusions by making a single contribution of as much as $ 75,000 per beneficiary in 2018 (or a couple could contribute $ 150,000 in 2018), as long as no other contributions are made for that beneficiary for five yearby making a single contribution of as much as $ 75,000 per beneficiary in 2018 (or a couple could contribute $ 150,000 in 2018), as long as no other contributions are made for that beneficiary for five years.

Other exceptions that let you avoid paying taxes include debt discharged in bankruptcy, debt given as a gift by a friend or family member, and certain business real estate and farm exclusions, he says.