Gifts That Qualfy for the Federal Gift Tax Exclusion
UPDATED: June 19, 2018
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Gifts that are eligible for the annual $15,000 exclusion apply only to gifts of present interest, meaning that the receiver can enjoy and use the property, and income, now. Gifts of future interests -- meaning the receiver’s use of the property will not begin until some future date – do not qualify. Examples of future interests include reversions, remainders, and other similar interests.