2024 Gift Tax Exemption Over 65. The federal gift tax exclusion will increase to $18,000 in 2024, up from $17,000 in 2023. For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly — from $1,950 in 2024 (returns you’ll file soon in early 2025) to.
The tax cuts and jobs act delivered a sizable increase in the tax exemption limit for estates and lifetime gifts — up to $13.61 million per person in 2024. A married couple filing jointly.
2024 Gift Tax Exemption Over 65 Images References :