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    2024 Estate Tax Exclusion

    The 2024 federal lifetime unified estate and gift tax exclusion is $13,610,000 up from $12,920,000 in 2023.

    In addition, the annual federal gift tax exclusion in 2024 is $18,000 per person per year, up from $17,000 in 2023.

    The 2024 New York estate tax exclusion is $6,940,000 up from $6,580,000 in 2023. (There is no gift tax in New York State.)

    The information provided herein is provided with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional service. As such, M + O = CPE, Inc. and the author disclaim any responsibility or liability for the information supplied herein or the application of said information.