Estate Tax Exemption 2024 Sunset . The increased estate and gift tax exemption, which is currently $12.92 million per person and increased to $13.61 million per person for 2024, is set to sunset at the end of 2025. As part of this legislation, the estate tax exemption was increased from $5.49 million in 2017 to $11.8 million in 2018 and is annually adjusted for inflation.
If a taxpayer made a gift of $5.2 million today when the exemption amount is $13.61 million, and the exemption amount is reduced to $7.2 million in 2026, the. For individuals with a taxable estate currently above $7 million, or married couples with taxable estates above $14 million, now is the time to review your estate.
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The Sunset of the Federal Estate Tax Exemption , The federal estate and gift tax exemption permits individuals to transfer a certain amount of property or assets to others during their lifetime or after their death.
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Sunset of Federal Estate Tax Exemption Could Mean Opportunity for , The federal estate and gift tax exemption permits individuals to transfer a certain amount of property or assets to others during their lifetime or after their death.
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"Planning for the 2026 Sunset of the Estate Tax Exemption” webinar , Remember, some states have estate tax as well, so estates can end up with less than 60% of the net estate assets after paying the estate tax.