From Yahoo Finance: 2025-04-27 08:30:00

A $30,000 gift for a child’s wedding could trigger federal gift tax up to 40%. The annual exclusion allows gifts up to $19,000 per individual tax-free. Lifetime exemption is $13.99 million. Options include gift-splitting with a spouse and proper reporting to avoid penalties. Consult a financial advisor for guidance.

For a $30,000 wedding gift, consider gifting $15,000 to each spouse to stay within the annual exclusion limit. Exceeding the limit reduces the lifetime exemption amount. If you’ve exceeded the lifetime limit, gift-splitting with a spouse can help avoid taxes on larger gifts. Consult a financial advisor for personalized advice.

Making a $30,000 gift towards a wedding may not incur federal gift tax for most. Proper reporting is essential for gifts over $19,000. Lifetime exclusion is $13.99 million. Gift-splitting and strategic planning can help avoid taxes. Seek advice from a financial advisor to navigate gift tax laws and regulations effectively.



Read more at Yahoo Finance: Will I Owe Gift Tax If I Contribute $30,000 to My Child’s Wedding?