annual exclusion

The maximum amount that an individual 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.