In the realm of taxation, a frequently asked question is: "do I have to pay taxes on a gift?" To provide a succinct answer: typically, the recipient of a gift does not bear the burden of paying the gift tax. The tax accountability, more often than not, rests with the individual giving the gift. Particularly, the donor might need to file a gift tax return when the value of the gift surpasses the annual gift tax exemption limit. As of 2023, this limit stands at $15,000 per recipient. However, the giver might not need to pay the gift tax due to the applicability of the basic exclusion amount.