Federal Exemption Amounts Increased to $13,990,000 – As of January 1, 2025, the federal gift and estate tax exemption amount, as well as the exemption from generation-skipping transfer (GST) tax, (collectively, the “federal exemption amounts”) have increased from $13,610,000 to $13,990,000, an increase of $380,000 per person. A married couple can combine their exemptions to transfer twice this amount, or a total of $27,980,000.
Read More
