The maximum amount that a person is allowed to give another person without incurring Federal Gift tax. The current Annual exclusion is $11,000 per year per recipient. There is no limit on the number of these gifts you can make to different people in a year. To qualify, a gift must be of a "
present Interest,"
meaning that the recipient can make use of the gift immediately, and the donor must not have any control over the Asset after it is given.
