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How to gift money to children, family, and loved ones | Fidelity Giving to a loved one or charity can be one of life's greatest joys But when it comes to gifting, there are some key issues, including potential tax implications, that you'll want to keep in mind in order to make the most of your gift, especially with recent changes to tax law
Gift Tax: 2025 Exemptions and Limits - NerdWallet If the value of the transfer exceeds the annual gift limit, you may need to file a gift tax return (but not necessarily pay taxes unless you exceed your lifetime gifting limit)
Understanding Gift Tax: Limits, Exemptions, and Reporting What Is the Gift Tax? The gift tax is a federal tax imposed by the Internal Revenue Service (IRS) on taxpayers who transfer money or property to someone else without receiving anything of
What is the gift tax? | Gift tax limit 2025 – Jackson Hewitt Gifts greater than the annual gift tax and lifetime gift and estate tax exclusion (more on those below), are likely to be taxable events: Direct gifts You transfer cash, a car, or other forms of property directly to another person Indirect gifts You make a gift on behalf of another person
What You Need to Know Before Gifting Money to Family Learn how gifting money to family affects your taxes, estate plan, and financial future—and how to help avoid costly mistakes when generosity meets complexity