IRS Gift Tax

According to the IRS you generally can give a gift valued at up to $15,000 each, to any number of people, and none of the gifts will be taxable in page. 

Gift Tax Annual Exclusion Year(s) Annual Exclusion 1998 – 2001 $10,000 2002 – 2005 $11,000 2006 – 2008 $12,000 2009 – 2012 $13,000 2013 – 2017 $14,000 2018 $15,000. It doesn’t get any simpler then this. People who have banged their head against the wall and struggled like crazy or even people with absolutely no experience are receiving cash and changing their lives….And quickly. Cash gifting is nothing new, the concept has been around for many years and our community is just that, a community of like minded individuals with a heart to give and help others prosper. In return for their generousity, they prosper as well. This community is not a “Scheme – To Get Rich” Absolutly no business transactions, investments and or securities involved whatsoever. In this private community, gifts are given freely and without consideration. There is absolutely No Selling. A gift does not involve the selling of anything and does not earn rights to anything. Therefore a “Gift” cannot be sold or exploited for any purpose within 14 Eagles.

click here to read the IRS PUB 559, pages 25-26.