Gift tax 101
The 2024 gift exclusion is $18,000 per donor per recipient. Above that, the giver files Form 709 but pays no tax unless they've exceeded the lifetime $13.6M exemption. Married couples can split and double it to $36k/recipient.
Debt Gift Payoff
Calculate impact and tax treatment if a family member pays off your debt.
Results
Months saved
77
New balance
$7,000.00
Gift tax issue?
No (under $18k)
Interest saved
$34,650.00
Frequently asked questions
1.Does the recipient owe tax?
Almost never — gift tax is a donor obligation, not the recipient's.
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