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Get your taxes done using TurboTax
As DoninGA mentioned, the gift tax exclusion for 2023 is $17,000. Note that DoninGA said "over $17,000 to a single individual." If you send, for example, $15,000 to your father and separately send $15,000 to your mother, you will not have exceeded the exclusion because you did not send more than $17,000 to a single individual.
‎September 6, 2023
5:08 PM