"Unified" credit for taxable gifts

[etre_heureuse]

What is the name of your state? MASS
Under the "unified" credit for taxable gifts, can a person make a gift of up to $1 million all at once and still qualify for exemption. Though he would have used up his $1 million gift tax exemption credit.

 

[Snipes5]

Yes, although the credit is something like $345,000. The actual exemption amount is $1.5M.

Be Happy!

There, I said it. I simply had to.

Snipes