Federal Estate Exemption 2024. For tax year 2024, the exemption is $13.61 million. With the increase in the gift tax annual exclusion and the federal estate tax exemption,.
Federal estate tax exemption increase for 2024. Important update to federal estate and gift tax exemption and exclusion amounts for 2024.
The irs has announced that for 2024, the federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person.
As of january 1, 2024, the federal lifetime gift, estate, and gst tax exemption amount increased to $13,610,000 per person or $27,220,000 for a married couple.
The amount a decedent’s estate is exempt from estate tax is now $13,610,000.
For tax year 2024, the exemption is $13.61 million.
