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.

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Cite this Entry

“Annual exclusion.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/annual%20exclusion. Accessed 6 Aug. 2020.

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