Lifetime Gift Tax Exclusion 2024 Per Person
Lifetime Gift Tax Exclusion 2024 Per Person. The irs has announced that for 2024, the federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person. Currently, you can give any number of people up to $18,000 each in a single year without incurring a taxable gift ($36,000 for spouses splitting gifts)โup from.
Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). The 2024 lifetime estate tax exemption is $13.61 million (double for.