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Goofy, who is unmarried, gave the following gifts (directly to each listed individual) in 2018: Donee...

Goofy, who is unmarried, gave the following gifts (directly to each listed individual) in 2018:

Donee

Amount

Use by donee

Ludwig

$16,000

Down payment on house

Clarabelle

10,000

Car

Toodles

5,000

Vacation trip

Goofy's 2018 annual exclusions for gift tax purposes will total:

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Answer #1

As per publication from IRS Instruction for form 709 , the individual gift exclusion of $15,000 per year in 2018. There are some special provision of exclusion in case of medical support .

As per condition and purpose for gift given , it indicate the total annual exclusion will be $ 15000 only in year 2018.

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