Gift and Income Tax Strategies

Free CFP Exam lesson in General Principles of Financial Planning. 18 min read, ~2,764 words.

Annual exclusion = $19,000/donor/donee; gift splitting doubles it to $38,000 and always requires Form 709, even when no tax is owed. Applicable exclusion amount (lifetime exemption) = $15,000,000/person, unified with the estate tax. Direct tuition/medical under 2503(e) = unlimited, no Form 709, stacks with the annual exclusion; only tuition paid...