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How much money can be legally given to a family member as a gift?

Charlotte Brown | 2023-05-07 14:54:26 | page views：1441
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Charlotte Hall

Studied at the University of Lagos, Lives in Lagos, Nigeria.
The simplest way to subsidize others is by using the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you want. Spouses can combine their annual exclusions to give $28,000 to any person tax-free -C a process called gift-splitting.
2023-05-08 14:54:26
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Ava Powell

QuesHub.com delivers expert answers and knowledge to you.
The simplest way to subsidize others is by using the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you want. Spouses can combine their annual exclusions to give $28,000 to any person tax-free -C a process called gift-splitting.
The Limits On Tax-Free Gifts: What You Need To Know - Forbes
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