What Is the Gift Tax Rate for 2021?
Read clear answers on What Is the Gift Tax Rate for 2021.
So how much can parents gift for a down payment? For 2020, the IRS gift tax exclusion is $15,000 per recipient. That means that you and your spouse can each gift up to $15,000 to anyone, including adult children, with no gift tax implications.
Robert Thorne covers electric vehicle innovations, autonomous driving systems, global mobility trends, and automotive engineering developments.
