@Curious_panda1 wrote:
Can you elaborate? I was under the impression if a donor gave a donee more than the annual exempt amount (18000 for 2024) then tax would be owed?
Not unless the lifetime exemption has been exceeded.
See https://www.irs.gov/instructions/i709#en_US_2023_publink16784xd0e5332
Note that the information at the link above is for the 2023 tax year.
