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Per IRS Publication 559, Survivors, Executors, and Administrators, p. 25:

The general rule is that any gift is a taxable gift; however, there are many exceptions to this rule.

Generally, the following gifts are not taxable gifts:

  • Gifts, excluding gifts of future interests, that are not more than the annual exclusion for the calendar year,
  • Tuition or medical expenses you pay directly to a medical or educational institution for someone,
  • Gifts to your spouse,
  • Gifts to a political organization for its use, and
  • Gifts to charities

The gift exclusion for 2013 through 2017 was $14,000 for each individual you chose to give a gift. For 2018 and 2019, the exclusion has increased to $15,000.

Please see IRS Publication 559 Introduction to Estate and Gift Taxes for more information regarding the Gift Tax.

TaxAct® supports the individual tax return, but does not support the gift tax return on Form 709. This is a separate return from the individual tax return (Form 1040).

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