Lifetime gift exclusion

03-31-2006, 10:04 AM

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Join Date: May 2004

Posts: 41,350

Lifetime gift exclusion

What is the name of your state? NA

I thought that this might clear up some confusion we have be having about the maximum "gift" exclusion. I just ran across this on the IRS website:

Reminder: Most relatively simple estates (cash, publicly-traded securities, small amounts of other easily-valued assets, and no special deductions or elections, or jointly-held property) with a total value under $1,000,000 do not require the filing of an estate tax return. The amount was $1,500,000 in 2004 and 2005. For 2006 through 2008, the amount is raised to $2,000,000.

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