what is the most i can gift someone without tax
For an update, see my Oct. 30, 2014 post, âIRS Raises Limit On Tax-Free Lifetime Gifts For 2015.â. The yearly limit on how much we can each give another person without having to worry about gift tax in 2013 is $14,000. This limit, known as the annual exclusion, will not be increased for inflation in 2014. Spouses can combine their annual exclusions to double the size of the gift.