As a result, the entire history of the car is documented. For the next twelve years, the âBird sat. Joe partially disassembled the car to determine what it was going to need. the list became so long that parts were acquired as opportunity and funds allowed. Fortunately, most of the special Superbird parts could be reused.
As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to. If you're married, you can double that: you and your spouse are each entitled to give away $13,000 per person.
Advertisement. You can give up to $14,000 per beneficiary each year without incurring a gift tax or needing to report the gift on a tax return. Married couples can transfer a total of $28,000 per beneficiary.his allows the donor to give up to $65,000 per beneficiary in a single year ($130,000 for a married couple through gift-splitting). The donor may not give additional gifts to the beneficiary during the five year period without incurring the gift tax.