2024 Gift Exclusion Amount . This exclusion amount, which currently stands at $18,000 for the year 2024, is adjusted annually for inflation, making it a valuable tool for wealth transfer planning. The annual exclusion for gifts in 2024 is $18,000, up from $17,000 in.
The federal gift and estate tax exemption amount for 2024 is $13.61 million, up from $12.92 million in 2023. No, but your mother may be required to report this transaction to the irs as a taxable gift.
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