If you give a gift over the gift tax exclusion of $15,000 the overage of that gift is subject to gift taxation. As these overages add up, they will reduce your lifetime limits. This means that more of your estate will be open for taxation.
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If you give a gift over the gift tax exclusion of $15,000 the overage of that gift is subject to gift taxation. As these overages add up, they will reduce your lifetime limits. This means that more of your estate will be open for taxation.