2024 Gift Tax Exemption Amount
2024 Gift Tax Exemption Amount. Thus, from the taxation point of view, gifts can be classified as: The lifetime gift tax exemption in 2024 is set at $13.61 million per individual. In 2024, each taxpayer has an applicable exclusion of $13,610,000 from these taxes, and this amount is scheduled to increase in 2025 with an annual inflationary. Monetary gift or money received in the form of cash, cheque,.
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