MLchartDataset catalogue

Annual exclusion amount

Term · Law · MLC-T-LAW-000510

The maximum value of gifts an individual can give to any other person in a single calendar year without incurring gift tax or using up their lifetime gift tax exemption. This amount is adjusted periodically for inflation by the Internal Revenue Service. For 2024, the annual exclusion amount is $18,000 per donee.

Table 1. Record
IdentifierMLC-T-LAW-000510
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000510",
  "term": "Annual exclusion amount",
  "field": "Law",
  "definition": "The maximum value of gifts an individual can give to any other person in a single calendar year without incurring gift tax or using up their lifetime gift tax exemption. This amount is adjusted periodically for inflation by the Internal Revenue Service. For 2024, the annual exclusion amount is $18,000 per donee.",
  "url": "https://mlchart.com/terminology/law/annual-exclusion-amount/"
}

Record 288 of 5,441 in Law terminology (MLC-0107). Request the full dataset.