Intuit Academy Tax Practice Exam 2026 – All-in-One Guide for Exam Mastery!

Question: 1 / 400

What is the federal gift tax exclusion for 2022?

$14,000 per recipient

$16,000 per recipient

The federal gift tax exclusion for 2022 is indeed $16,000 per recipient. This amount represents the maximum value of gifts that an individual can give to any one person within a calendar year without incurring a gift tax or requiring the filing of a gift tax return.

The exclusion amount is adjusted for inflation, and as such, it can change from year to year. For 2022, the exclusion was increased from the previous year's limit of $15,000 to $16,000, reflecting this adjustment. This means that an individual could gift up to $16,000 to multiple recipients without affecting their lifetime estate and gift tax exemption or having to file a gift tax return.

Understanding this exclusion is essential for tax planning, as it allows individuals to transfer wealth to family members, friends, or charitable organizations while minimizing tax liabilities.

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$18,000 per recipient

$20,000 per recipient

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