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Is paying someone's pharmacy bill (Mepilex medical wound

Customer Question
padding) exempt from the gift...
Is paying someone's pharmacy bill (Mepilex medical wound padding) exempt from the gift tax?
Submitted: 1 year ago.Category: Tax
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Answered in 1 minute by:
5/27/2016
Tax Professional: Richard, Tax Attorney replied 1 year ago
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,028
Experience: 29 years of experience as a tax, real estate, and business attorney.
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Good morning David. My name is ***** ***** I look forward to helping you.

You really have no concerns about any gift tax. Recipients of gifts are not subject to gift tax. And, there should also be no gift tax due from the donor. Each donor can give $14,000 per year per person under the annual gift exclusion. In addition to that, for any amounts in excess of the $14,000 in a year, each person has a $5,450,000 lifetime exemption....which means a person can give a cumulative amount of up to $5,450,000 in gifts over and above the $14,000 annual gift exclusion amount without incurring gift tax....the donor must file a gift tax return to let the IRS know how much of the lifetime exemption is being used, but there will be no gift tax until cumulative additional gifts have exceeded the $5,450,000.

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