The gift limit is $17K ($18K next year) per recipient for a donor. This means that a couple can gift another couple $68K in a year without triggering any report

The gift limit is $17K ($18K next year) per recipient for a donor. This means that a couple can gift another couple $68K in a year without triggering any reporting requirements. (Each member of gifting couple can gift $17K to each member of the receiving couple.) You can also gift up to 5 years' worth at once, with some paperwork needed. Gifts received are always non-taxable to the recipient. The gift tax (when required) is first a reduction of estate tax exclusion of the donor, nothing for the recipient of a bonafide gift to do tax-wise.