Gift Tax and Guft amount

Asked over 5 years ago - Albuquerque, NM

Gabriel you state that a person can give a maximum of $12,000 per year to another person, yet later you state " if you give more than $12,000 to any one person, then you file a gift tax return but you don't pay anything" CAN you give a gift of more than $12,000 to one person?? And does the person gettting the gift have to pay a tax on a gift over the $12,000 amount? What is the tax if a tax is applied to the amount of a gift a person gets???

Attorney answers (1)

  1. Mark S Britton


    Lawyer agrees


    Answered . See the "Gift Tax" section of this site:

    It answers each of your questions.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.


Ask now

26,068 answers this week

2,770 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

26,068 answers this week

2,770 attorneys answering