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Is That Gift Taxable? – IRS Form 709

John Dundon

The IRS instructions to Form 709 Gift Tax Return spell out the general rules for allocating the unified credit to prior gifts. For 2017, the annual gift tax exclusion is $14,000.  That means you can give up to $14,000 to as many different people as you want as a gift without being subject to gift tax rules. Read more

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