All glossary terms
Glossary term
Lifetime Gift Tax Exclusion
Cumulative lifetime gift-tax exemption coordinated with the estate tax exclusion.
Related terms
2
Jurisdictions
us
Definition
The lifetime gift-tax exclusion under Section 2505 mirrors the estate-tax basic exclusion (currently $13.61 million in 2024). Lifetime gifts above the annual exclusion ($18,000 per donee in 2024) reduce the available lifetime exclusion.
Examples
- A donor making a $1,000,000 taxable gift uses $1,000,000 of their lifetime exclusion.
Translations
ESexclusión de impuesto vitalicio de regalos
ZH终身赠与税免征额
DElebenslange Schenkungssteuer-Freibetrag
FRabattement viager de donation
JA生涯贈与税控除
Citations
26 U.S.C. · 2505
Related citations
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This entry cites
Cited by
Primary sources
- IRS: Gift taxVerified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.