Lifetime Gift Tax Exclusion 2024 Form

Lifetime Gift Tax Exclusion 2024 Form. This means you can give up to $13.61 million over your lifetime without paying gift. If you're married, your spouse is entitled to a separate $12.92 million exemption and can inherit your unused lifetime exemption by filing an estate tax return on form 706.

There is also a lifetime gift and estate exemption that applies to each taxpayer. If some or all of the lifetime gift tax exclusion is used to shield gifts from taxation during.