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.
Best Answer: For 2008, you generally can give a gift valued at up to $12,000 each, to any number of people, and none of the gifts will be taxable. (that is Per Person & Per Year) --------------------------------------... **Further details and examples: Below** If you are married, both you and your spouse can separately give gifts valued at up to $12,000 to the same person in 2008 without making a taxable gift. If one of you gives more than the $12,000 exclusion to a person in 2008.