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manunited
Jan 21, 2009, 05:25 PM
what is the maximum amount an individual can recieve as a gift before they are taxed?
IntlTax
Jan 21, 2009, 07:13 PM
The individual receiving the gift is not subject to gift tax. The donor is subject to the gift tax. If a donor is a U.S. citizen or is domiciled in the U.S., he/she can make lifetime taxable gifts of up to $1,000,000 before being subject to federal gift tax. Taxable gifts generally are gifts in excess of $13,000 (for 2009).