Federal gift tax - sustany/dvg GitHub Wiki

The federal gift tax is a�tax�levied by the federal government on a�donor�who transfers property to a�donee�without the donee giving�consideration�in return.�The�gifted�property must be in an amount above the limit set by the federal government in order to be subject to the tax.�

As of 2023, there is�a gift exclusion of $17,000. As a result, a party can make a gift up to $17,000 per person without paying a federal gift tax. Currently, the federal gift tax rate varies from 18% to 40% depending on how large the gift is.��

For more information visit: irs.gov/instructions/i706�and see the irs.gov page on gift tax