2025 Gift Tax Exemption Over 65. There's no limit on the number of individual gifts that can be made, and couples can give double that amount if they elect to split gifts. Section 194p of the income tax act, 1961 provides conditions for.
2025 standard deduction over 65 the additional standard deduction amount for 2025 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving. For married couples, the exemption doubles, allowing them to gift up to $36,000 to each.
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