INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-You could give any number of people [$13,000 | $25,000] per year without having to pay any gift taxes.

Question

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. 
-You could give any number of people [$13,000 | $25,000] per year without having to pay any gift taxes.

Quizplus · Accepted Answer

According to current tax laws, you can gift up to $13,000 per year (as of 2021) to any number of people without paying any gift taxes. Therefore, option A is the correct choice. Option B is incorrect as the tax-free gift limit per person is $15,000 (as of 2021), and option C is also incorrect as option A correctly completes the statement.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which