gifts as a deduction?

What is the name of your state? WA

If I give a gift of $11K, is that a deduction for me or is it merely the limit that I can give w/o paying gift tax? Is there ANY benefit for me, tax-wise, for gifting this amount?

[abezon]

No deduction unless you give the money to charity, in which case there's no $11,000 limit. The $11,000 limit is the maximum you can give to any 1 recipient during the year without having to file a gift tax return.

Gifting reduces your taxable estate when you die, but does not give your heirs the step up in basis they get when they inherit through an estate.