Brana Brigitte

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2025

Gift Tax Exclusion Change After 2025

Gift Tax Exclusion Change After 2025. The year 2024 saw income tax changes in the middle of the year. Speaking of the lifetime exemption, the estate and gift tax exemption will be $13.99 million per individual for 2025 gifts and deaths, up from $13.61 million in 2024.


Gift Tax Exclusion Change After 2025

This happened because the government presented the union budget 2024 in july due to general elections. The annual exclusion gift is the amount of money or property that can be given to another person each year without triggering gift tax or using up the lifetime gift tax exemption.

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