"0" was the gift tax in 2018.
Gift taxes are paid by either the giver or the recipient?
- The recipient of a present normally is not responsible for paying gift tax, which is the standard response to the question "do I have to pay taxes on a gift?"
- However, when the gift exceeds the yearly gift tax exclusion level, which is $15,000 per recipient for 2019, the giver will typically submit a gift tax return.
- You'll report your gift to the IRS using this form. This form is used by the IRS to keep track of any gifts you make that exceed the yearly exclusion over the course of your lifetime. 2019's gift tax rate is 0.
A gift tax is not present. There is no gift tax because gifts up to $15,000 are tax-free.
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