A: There are two different exclusions that allow you to avoid gift tax: the annual gift tax exclusion ($15,000 per year in 2021 and $16,000 per year in 2022) and the lifetime gift tax exclusion amount ($11.7 million in 2021 and $12.06 million in 2022). When you gift more than those amounts, you’ll have to file a gift tax return: however, that doesn’t mean you have to pay a gift tax; rather, the IRS will keep track of the amount of lifetime exemption you are using. If you don’t gift anything that will require you to file the gift tax return, then your estate will have your whole lifetime exemption to use upon your passing.