{"id":5669,"date":"2025-01-17T10:13:39","date_gmt":"2025-01-17T15:13:39","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=5669"},"modified":"2025-01-17T10:13:39","modified_gmt":"2025-01-17T15:13:39","slug":"transfer-tax-exemptions-for-2025","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/transfer-tax-exemptions-for-2025.html","title":{"rendered":"Transfer Tax Exemptions for 2025"},"content":{"rendered":"

On October 22, 2024, the IRS issued Revenue Procedure 2024-40 setting forth the inflation adjusted transfer tax exemptions for 2025. The Basic Exclusion Amount (BEA) will be $13,990,000.\u00a0 The increase means that in 2025, an individual may make gifts during life or at death totaling $13,990,000 without incurring gift or estate tax; a married couple will be able to transfer $27,980,000 of assets free of transfer taxes.\u00a0 The Generation-Skipping Transfer (GST) Exemption under section 2631 of the Code will also increase to $13,990,000.<\/p>\n

The annual gift tax exclusion provided by Code section 2503 will increase in 2025 to $19,000 per donee (or $38,000 if spouses elect gift-splitting).<\/p>\n

The gift tax annual exclusion for gifts to non-citizen spouses as set forth in Code sections 2503 and 2523(i)(2) will increase to $190,000.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

On October 22, 2024, the IRS issued Revenue Procedure 2024-40 setting forth the inflation adjusted transfer tax exemptions for 2025. The Basic Exclusion Amount (BEA) will be $13,990,000.\u00a0 The increase means that in 2025, an individual may make gifts during life or at death totaling $13,990,000 without incurring gift or estate tax; a married couple […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[293,65,343],"tags":[],"coauthors":[295],"class_list":["post-5669","post","type-post","status-publish","format-standard","hentry","category-robbins","category-insights","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"\nTransfer Tax Exemptions for 2025 — January 17, 2025 — Lindabury, McCormick, Estabrook & Cooper, P.C. 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