answer:Calender year 2008 – $12,000 from one person. If it is $12,001, you have to declare the $1 as income. There is also a one-time lump sum that a person can give away, that will not be considered as part of his/her estate for tax purposes. I think this year it is $1 mil. Check out the IRS sites for more accurate details. Or maybe some of the Google experts here can find it. I am going outside to watch the eclipse.