The gift tax is accounted for by the giver, not the recipient, and is per-(donor, recipient) pair.
Person A can give persons C and D $14K each and that all falls under the annual exemption. Persons A and B can together give person C $28K and person D $28K and still be within the exemption (2 spouses giving to 2 kids is a common example).
Comments
The gift tax is accounted for by the giver, not the recipient, and is per-(donor, recipient) pair.
Person A can give persons C and D $14K each and that all falls under the annual exemption. Persons A and B can together give person C $28K and person D $28K and still be within the exemption (2 spouses giving to 2 kids is a common example).