Annual Exclusion – Estate Planning Term of the Week
Posted in Estate Planning, Estate Planning Term of the Week on Mar 3rd, 2010
The amount of property an individual may gift to another person each calendar year without incurring a gift tax and without IRS reporting requirements. For 2010, an individual can gift $13,000 to each person, per year. Married couples can combine their annual exclusion amounts and gift $26,000 to each person, per year. Gifts made to a spouse who [...]