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How can you gift over $13,000 to one recipient

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How can you gift over $13,000 to one recipient?

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

 

There is no limit on the maximum you can gift to another person. However, when you pass the $13,000 threshold in any year you are required to file a gift tax return and, if required, pay any gift tax which may be due. To avoid the reporting requirement simply requires that you make $13,000 gifts to multiple individuals and they in turn make $13,000 gifts to the originally intended recipient. Another alternative is, if you are married, that each of you make gifts. If you do not know anyone you can trust to receive and then pass along a gift you can still go forward. There is no tax for gifts under $1,000,000 just a filing requirement.

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