Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
But probably the simplest way for someone who doesn't have a large net worth is to use the "unified credit" - which lets you give away in life up to $1.7M, although it counts against what you can give away when you die - see form 709 as has already been suggested.
=============================
Where is the $1.7M coming from? The unified credit of $2,045,000 is the equivalent of a combined lifetime gift-estate exemption $5,250,000.

Other than that, I agree. Gifts over $14,000/yr to a done will require the filing of a gift tax return, but that's not such a big deal. You just use up some of the exempt amount.

Bill
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement