A separate annual exclusion applies to each person to whom a taxpayer makes a gift.

But if you make a claim, the burden of proof falls on the insurer to show how any exclusion applies.

This exclusion applies regardless of whether he has not yet been outrighted once, has remaining options, or has cleared waivers.

The courts have consistently given very broad meaning to this phrase, interpreting it to include all income unless a specific exclusion applies.