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Barry and his wife Mary have accumulated over $4 million during their 51 years of marriage. They have four children and six grandchildren. How much money can Barry and Mary gift to their children in 2021
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5 votes
Barry and his wife Mary have accumulated over $4 million during their 51 years of marriage. They have four children and six grandchildren.

How much money can Barry and Mary gift to their children in 2021 without any gift tax liability?

Note: Enter your answer in dollars not in millions of dollars.

User Virgiliu
by
8.3k points

1 Answer

6 votes

Answer: $60,000 ($15,000 per child)

Explanation:

User GMG
by
8.3k points
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