Annual exclusion gift

{
  "id": "MLC-T-LAW-000511",
  "term": "Annual exclusion gift",
  "field": "Law",
  "definition": "A gift made by an individual to another person that falls within the annual exclusion amount, meaning it does not count against the donor's lifetime gift tax exemption and is not subject to gift tax. To qualify, the gift must be a present interest, meaning the recipient has immediate use, possession, or enjoyment of the property. Donors can make an unlimited number of such gifts each year to different recipients.",
  "url": "https://mlchart.com/terminology/law/annual-exclusion-gift/"
}