Exclusions. The entire $50,000 you give isn't vulnerable to taxation. The IRS allows exclusions, a dollar limit you can give away tax-free. 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.f your generosity qualifies as a gift with the IRS, you'll have to pay taxes twice on the amount that exceeds the exclusion: once in income tax, then again for the federal gift tax. The 2012 federal gift tax rate is 35 percent.
The IRS has released the inflation-adjusted limits for HSAs and HDHPs for 2018. These limits include: (1) the maximum HSA contribution limit; (2) the minimum deductible amount for HDHPs; and (3) the maximum out-of-pocket expense limit for HDHPs. The IRS limits for HSA contributions and HDHP cost-sharing will all increase for 2018. This Compliance Bulletin shows the new limits for 2018 (as compared to the 2017 limits).
For 2018, the contribution limit for self-only HSAs is $3,450 per year. The contribution limit for family coverage HSAs is $6,900 per year. If you're age 55 or older, you can make an additional $1,000 catch-up contribution to your HSA. Contribute more than the annual limit and you'll be charged an extra 6% tax on the excess, plus you won't be able to deduct those over-limit contributions.