The Taxation of Gifts
National Public Accountant
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.
Lockwood, M. Jill, Leslie B. Fletcher.
"The Taxation of Gifts."
National Public Accountant: 8-10.