Annual gift tax exclusion raised to 15,000 in 2018

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ray.james
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Annual gift tax exclusion raised to 15,000 in 2018

Post by ray.james » Tue Oct 24, 2017 3:24 pm

IRS announced it early this week. Not sure if someone posted this before but did not see a thread on search.
Annual gift tax exclusion raised to $15,000 from 2018. Per couple this would be $30,000 per donee.

https://www.irs.gov/businesses/small-bu ... gift-taxes
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Spirit Rider
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Re: Annual gift tax exclusion raised to 15,000 in 2018

Post by Spirit Rider » Tue Oct 24, 2017 3:44 pm

While not specifically identified, it was part of the information provided in this thread 2018 IRS tax information

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ray.james
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Re: Annual gift tax exclusion raised to 15,000 in 2018

Post by ray.james » Wed Oct 25, 2017 12:14 am

Spirit Rider wrote:
Tue Oct 24, 2017 3:44 pm
While not specifically identified, it was part of the information provided in this thread 2018 IRS tax information
Thanks Spirit rider, I did not read entire details on the IRS page(tax changes) but saw it updated in the relevant section for gifts. I did not know these 2 will be announced together.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939

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TD2626
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Re: Annual gift tax exclusion raised to 15,000 in 2018

Post by TD2626 » Wed Oct 25, 2017 12:24 am

Lots of stuff gets adjusted regularly for inflation. Staying abreast of new developments helps one avoid mistakes.

Also - before you start celebrating certain exclusions, deductions, limits, or allowances being changed: remember that these are generally inflation adjustments. There isn't actually any significant "real" (i.e. inflation-adjusted) change in things that are simply being indexed to inflation and periodically boosted in (in increments... there's rounding so it isn't exact). Numbers change, but values don't change (much).

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