@JohnASmith wrote:
We are doing a family transfer to my son and his wife. So, $64,000 exempt and about $50,000 pushed to our lifetime estate exemption.
For the 2023 tax year, the annual gift tax exclusion is $17,000 per individual.
Therefore, if it is you and your wife gifting to your son and his wife, the 2023 exclusion would be $68,000.
