The gift tax limit affects how much can be given each year without tax consequences. See what counts as a gift and when reporting is required for taxes.

Our gift tax calculator estimates how much of your annual and lifetime exclusions will be used up by your gift, and whether you'll have to pay any taxes on it. Many, or all, of the products featured ...

One thing to be wary of: How the IRS defines what counts as a gift. For instance, if you sell a house for substantially less than the IRS would deem its fair market value — perhaps as a favor to a ...