November 25, 2024

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2024 Gift Tax

2024 Gift Tax. The tax cuts and jobs act delivered a sizable increase in the tax exemption limit for estates and lifetime gifts โ€” up to $13.61 million per person in 2024. Depending on how late it was filed, these taxpayers were penalized up to 25 percent of their gift or inheritance despite owing no actual tax.


2024 Gift Tax

You do not have to pay gift tax. How much money can you gift?

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