What is Gift Tax? | SIE, SERIES7, SERIES65 Exam Prep

Gift tax is a federal tax on transferring assets to another person while alive, with an annual exclusion of $18,000 per recipient in 2024 ($36,000 for married couples splitting gifts). The lifetime exemption of $13.61 million is unified with the estate tax exemption. 📚 Learn more about Gift Tax and other key terms for your SIE, SERIES7, SERIES65 exam at Open Exam Prep. 🎯 This term appears on: SIE, SERIES7, SERIES65 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Gift Tax definition: https://www.open-exam-prep.com/glossary/gift-tax 💡 Exam Tip: 2024 annual exclusion: $18,000/recipient. Lifetime exemption: $13.61M (unified with estate tax). DONOR pays tax. Direct tuition/medical payments are unlimited and excluded. --- #securities #examprep #financeexam #sie #series7 #series65