What is the annual exclusion?

The annual exclusion is an extremely beneficial tax avoidance tool that allows each taxpayer to gift up to $16,000 (as of 2022) in assets to an unlimited number of beneficiaries each year tax-free. Couples can gift-split and gift assets valued at up to $32,000. By way of illustration, a married couple with four children could transfer $128,000 in assets each year without using any of their lifetime exemption.

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