Gift Tax Exclusion 2024

Gift Tax Exclusion 2024. The exclusion will be $19,000 per recipient for 2025—the highest exclusion amount ever. The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return.


Gift Tax Exclusion 2024

The irs considers contributions to a 529 plan as completed gifts for federal tax purposes. For married couples, the limit is $18,000 each, for a total of $36,000.

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