TomD8
Level 15

Get your taxes done using TurboTax

You don't have to pay gift tax until your total gifts exceed the lifetime exclusion.

The $15000 limit refers only to the annual reporting requirement.  Gifts under that amount don't have to be reported.

Note my edited original reply regarding gifts of tuition.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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