2025 estate tax exemption and lifetime gift tax changes

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2025 estate tax exemption and lifetime gift tax changes

The Internal Revenue Service has announced a higher estate and gift tax exemption for 2025.

The “basic exclusion amount”

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per person in 2025, up from $13.61 million in 2024, the agency said Tuesday. The exemptions apply to tax-free transfers during life and at ******.

The IRS also boosted figures for dozens of other provisions, including federal income tax brackets, long-term capital gains tax brackets and eligibility for the earned income tax credit, among others.  

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After 2025, the higher estate and gift tax exemption enacted by former President Donald Trump will sunset without action from Congress. If the provision expires, the exclusion will revert to 2017 levels, adjusted for inflation. The Tax Cuts and Jobs Act

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to $11.18 million in 2018, according to the Tax Policy Center.

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