- GaryLv 77 年前最佳解答
2. The exemption is used on both gift tax and estate tax.
For example, if the property is currently valued as $500,000 (gift tax is assessed based on fair market value, not the original purchase value) and gifted to another person, the lifetime exemption will be reduced by $486,000 ($14,000 of gift each year is exempted automatically), and new exemption will remain as $4,764,000.
2013-07-24 18:21:00 補充：
No. There is in fact 2 exemptions:
1) $14,000 each year
2) $5,250,000 lifetime
2013-07-24 18:22:40 補充：
For example, if a person gives you a used car that valued $10,000, your lifetime exemption will not be affected. Only your per year exemption will be affected.
IRS allows gifting to certain level each year without using lifetime exemption.
2013-07-25 11:27:17 補充：
No - it is reportable, but not taxable.