annual exclusion

noun
an·​nu·​al exclusion

Legal Definition of annual exclusion

: the maximum amount that a person can give each year as a gift without having to pay a gift tax

Note: As of January 1, 2015, the annual exclusion is $14,000 per donee.

Learn More About annual exclusion

Dictionary Entries Near annual exclusion

annotation

annual exclusion

annual meeting

See More Nearby Entries 

Cite this Entry

“Annual exclusion.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/annual%20exclusion. Accessed 29 Jul. 2021.

Style: MLA
MLACheck Mark Icon ChicagoCheck Mark Icon APACheck Mark Icon Merriam-WebsterCheck Mark Icon

WORD OF THE DAY

Test Your Vocabulary

Difficult Spelling Words Quiz

  • alphabet pasta spelling help
  • Which is the correct spelling?
Name That Thing

Test your visual vocabulary with our 10-question challenge!

TAKE THE QUIZ
Typeshift

Anagram puzzles meet word search.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!