how much can be given tax free as a gift
In 2015, a taxpayer can give up to $14,000 per person per year without being taxed on the gift. For example, this year you could give Friend A $14,000, Friend B $14,000, and your sister $14,000 and not be taxed on your gifts.lso, another way for parents to avoid the gift tax is to remember that each parent is entitled to their own individual $14,000 exclusion. This means that your mother and father could each give you $14,000 this year â for a total of $28,000 â without being taxed on that gift.