Annual Exclusion for Gifts

For calendar year 2017, the amount of gifts to any person (other than gifts of future interest in property) that are included in the total amount of gifts under Code Section 2503 made during that year is $14,000. 

For calendar year 2017, the amount of gifts to a spouse who is not a citizen of the United States (other than gifts of future interests in property) that are not included in the total amount of taxable gifts under Code Section 2503 and 2523 made during that year is $149,000.

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CPA Company LLC, 4335 Lake Michigan DR NW, Grand Rapids, MI 49534  616.453.6000