Defining a Gift A gift is anything of value that is transferred from one individual or entity to another, without anything expected in return. The following table shows what constitutes a gift.

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Are you considering giving cash or property to loved ones or others in 2024 or next year, in 2025? Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns.

"It's common to give anywhere from $100 to $1,000. I often see the card box on the gift table oozing with overstuffed envelopes," Burton said. "As a bride myself, I received one $1,000 check.

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