Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

One thing to be wary of: How the IRS defines what counts as a gift. For instance, if you sell a house for substantially less than the IRS would deem its fair market value — perhaps as a favor to a ...

Imagine your child is getting married and you want to help pay for their wedding. You’ve been saving for years and now have $30,000 set aside for their big day, which you plan to hand over in the form ...