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No gift tax return when giving $17,000 or less

Por: Orlando Sentinel Business March 23, 2023

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Q: My parents have named me executor and have also put my name on their bank accounts as co-owner. Since my two siblings are not listed as beneficiaries in the bank accounts, how much can I give to them without having to file a gift tax return? – V.R., Orlando A: The federal gift exemption for 2023 is $17,000 per person, and since you are married, you could transfer $34,000 to each sibling. If the amount is more than $17,000, you should speak... + full article



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