What is the gift tax limit for the 2014 tax season?

By Forinfos - 01/04/2026 - 0 comments

The 2014 gift-tax exclusion for a single taxpayer is $14,000 for gifts to one individual. A married couple can give up to $28,000 to one recipient, according to TurboTax. These limits apply to individual gifts, although donors can make multiple gifts to different individuals throughout the tax year.

People can give away more than the annual limit, but the excess counts against their lifetime exclusion of $5.34 million, which is the maximum a person can give away before incurring a gift tax, TurboTax notes. As an example, for a gift of $100,000, $14,000 is tax-free, and the remaining $86,000 counts against the giver's lifetime maximum.

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