Lifetime Gift Tax Exclusion 2024 Irs

Lifetime Gift Tax Exclusion 2024 Irs. Individual taxpayers may also make gifts up to $18,000 per gift recipient (up to $36,000 per recipient for married couples) in 2024 without using any of their lifetime. Starting january 1, 2024, the federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person.


Lifetime Gift Tax Exclusion 2024 Irs

The lifetime gift tax limit for 2024 is $13.61 million, up from $12.91 million in 2023. The irs typically adjusts this gift tax exclusion each year based on inflation.

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