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There are two main wedding anniversary gift lists commonly known. The traditional wedding anniversary gifts and the modern anniversary list. There are also flowers and gemstones associated with each year. People have been getting married since the beginning, and people also love to create traditions. Therefore the traditional wedding anniversary gift list was born.
The annual exclusion exempts from gift tax those gifts made to a person in a given calendar year provided that the gift is less than $14,000. This means that you can give up to $14,000 to as many people as you want without triggering the requirement of filing a gift tax return or paying any gift tax.