2015 gift tax exclusion?


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A

Alan

Does anyone know what the 2015 gift tax exclusion is for 2015? I
checked at the
http://www.irs.gov/Businesses/Small...oyed/Frequently-Asked-Questions-on-Gift-Taxes
but didn't see anything past 2014.

Thanks

========================================= MODERATOR'S COMMENT:
The link you provided says that the annual exclusion is "$14,000 on or
after January 1, 2013...."
The annual inflation adjusted factors should be announced within the
next 7 to 10 days in an information letter and published in a revenue
procedure in Mid-Nov. The annual gift tax exclusion uses $1000
increments. 1998's $10,000 exclusion is the base year. The IRS rounds
DOWN to the nearest $1000. 2009 was the jump to $13000 from $12000. It
stayed there for four years and jumped to $14000 in 2013. Given the low
inflation and the rounding down formula, it is highly likely that the
2015 exclusion will remain at $14000 (the third year at that rate).
 
M

Mark Bole

Does anyone know what the 2015 gift tax exclusion is for 2015?
The 2013 exclusion amount was announced on IRS Newswire (IR-2012-78) on
Oct 18, 2012. The 2014 exclusion amount was announced on IRS Newswire
(IR-2013-87) on Oct 31, 2013.

So I'd conclude the 2015 amount will be announced any day now. It is an
annual Revenue Procedure.
 
V

VinnyB

Thanks to all for the comments. Looks like I need to wait a few weeks
and then check back on the IRS.gov site to find the 2015 limits.
 
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