144k views
3 votes
Jim and sue have three children. what is the maximum amount they can give each year without having to pay a gift tax?

1 Answer

5 votes
78,000.00 This has to do with the IRS gifting rules. Jim and Sue are two people allowing them to have a better chance of giving more of a gift. This is done through a percentage of knowing that 5 million can be given as a gift without being taxed in a lifetime would be 20%.
User Chumakoff
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.