Estate Gift Tax Exemption 2024

Estate Gift Tax Exemption 2024. But because the tcja sunsets on december 31, 2025, the. Effective january 1, 2024, the federal estate and gift tax exemption amount increased from $12.92 million to $13.61 million per individual (a combined $27.22.

With inflation adjustments, these exemptions increased to $13.61 million per person, or $27.22 million per married couple, in 2024. The increased lifetime gift and estate tax exemption, implemented as part of the tax cuts and jobs act of 2017, is set to expire after 2025.