Make a loved one's day.Gift up to $19,000 per recipient (2025 limit) to reduce your estate’s taxable value. Married couples can gift up to $38,000 per recipient. While you don't get an income tax deduction for these gifts, the recipient won't owe taxes, and the gift can help reduce the value of your estate without using up your lifetime gift and estate tax exemption. https://t.co/PnMwP2I23y ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2025, you can give your son and daughter-in-law each $19,000 without having to deal with the IRS. But even if you give more, you won’t have to pay any taxes right now. In fact, unless you surpass the lifetime limit, currently $13.99 million, you won’t have to pay any gift taxes. Here's how it works. An experienced financial advisor can help you navigate those rules, so you can continue to give gi ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Perhaps your daughter recently got married and you want to help her and her husband start their new life. Or maybe they suddenly find themselves in need of financial assistance and turn to you for help. Fortunately, the IRS allows you to give away a certain amount of assets – from real estate and stocks to cold hard cash – free of taxes every year. In 2024, you can give away up to $18,000 per individual a ...