If you have 10 children and you and your spouse want to maximize the amount you can give to each child each year before you have to pay gift tax (use the 2016 rate),what is the maximum amount each child can receive each year?

Question

Quizplus · Accepted Answer

In 2016, the annual gift tax exclusion was $14,000 per recipient. A married couple could each give $14,000 to the same person without having to file a gift tax return, effectively allowing them to give $28,000 to each child tax-free.

If You Have 10 Children and You and Your Spouse