What Is The Estate Tax Exemption For 2024 Tax. As the tax exemption sunset approaches on january 1, 2026, it is crucial for higher net worth individuals and families to stay informed about potential changes in tax laws and to work closely with a qualified trusts and estate. In 2024, the exemption amount for individual estates will reach $13.61 million, an increase from the $12.92 million benchmark in 2023.
This is the dollar amount of taxable gifts that each person can. The tcja provisions related to the estate tax exemption is set to sunset on december 31, 2025 โ causing the exemption limits to revert to approximately $7 million.
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