Accountancy: Faculty Publications
The Taxation of Gifts
Document Type
Article
Publication Date
12-1-2003
Publication Title
National Public Accountant
Abstract
The United States gift tax applies to all gifts made by U.S. citizens, whether they live inside or outside the United States. Some gifts made by non-residents who are not citizens of the United States may also be subject to gift tax. A gift tax exclusion of $11,000 keeps small gifts from being taxed. In this article, assume that all of the examples presented below exceed the $11,000 exclusion.
Recommended Citation
Lockwood, M. Jill, Leslie B. Fletcher.
2003.
"The Taxation of Gifts."
National Public Accountant: 8-10.
https://digitalcommons.georgiasouthern.edu/account-facpubs/80
Copyright
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