Gift Tax in 2021: How Much Can I Give Tax-Free?

Dan Caplinger, The Motley Fool
·3-min read
Gift Tax in 2021: How Much Can I Give Tax-Free?

As you'll see below, though, even if you make a gift of more than $15,000, you usually won't have to pay any gift taxes right away. The system governing gift tax is tricky to understand, but below, we'll explain how it works and what you have to do to avoid it, if possible. The IRS has a combined system of taxation that governs both lifetime gifts and bequests you make at death.