Sentence examples for exclusion amount from inspiring English sources

A gift tax return is required if a gift to a particular person exceeds the annual gift tax exclusion amount, now $13,000 a year.

And, tax experts say, when the tax on the gain from the sale of a property cannot be totally avoided -- or when the gain exceeds the exclusion amount -- it may still be possible to reduce the taxes that will be due.

It's also possible for spouses to share their $5 million basic exclusion amount during life.

Only that portion of a gift exceeding the annual exclusion amount counts against the lifetime exclusion.

It's being reported that they have raised the applicable exclusion amount to $3.5 million.

Moreover, if the total allowable gain of all gain assets is less than the exclusion amount, the exclusion amount that can be allocated to the gain assets will be limited to that amount of gain.

Mr. Dale, on the other hand, asserts that "learning that someone is gay tells you nothing about his or her political party, religious beliefs, lifestyle, or moral code" and that consequently his exclusion amounted to the same discrimination based on status that the court rejected in the all-male club cases.

Paying Gift Taxes Gifts that exceed annual exclusion amounts and exceed estate and gift tax credits on a cumulative basis are subject to the payment of gift taxes.

Soon after the new tax law passed, I heard about a situation in which the poorer spouse (a woman) with an unneeded $5 million exclusion agreed to combine the two exclusion amounts for lifetime gifts so that her husband could give more to his kids from a previous marriage, tax-free.

When one of the couple is wealthy, and the other enters the marriage with an unneeded $5 million exclusion, they might agree on an arrangement to combine the two exclusion amounts for lifetime gifts so that the wealthier spouse can give more to his or her kids tax-free.

The exclusion amounts are as much as $500,000 for married couples who file joint returns and $250,000 for those who file singly or who are married but file separately.