There's a financial 'sweet spot' for my kids regarding when i pass. Before retirement we're still adding to savings. After retirement it gets tricky with health and lifestyle.

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[–] 5 points 9 months ago (1 child)

No it doesn't. tl;dr - (as of 2025) $19k/individual/year is tax free (so one couple could give another couple up to $76k/yr)

Any gifts above that limit needs to be reported but is still tax free, it just whittles away at your lifetime exclusion (which is the same bucket of money as your estate tax exemption - currently $15M).

The gift giver pays the tax only once they exceed the lifetime exemption. There is no tax for receiving gifts.

For 99.99% of Americans, there is no gift tax.

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  • [–] 5 points 9 months ago

    This is what kills me about people complaining about inheritance tax. Oh, you're worried you'll only be able to give each child $15M? Plus $19k/year before you die? I wish my kids had to struggle with only $15M when I die.

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