New Estate Tax Exemption Limits announced for 2018...we know you've been waiting
The IRS has announced the estate tax exemption and gift tax exclusion limits for 2018.
The Estate and Gift Tax Exemption is $5,600,000 per individual and totals $11,200,000 with portability for a married couple.
The Annual Gift Exclusion is $15,000 per person, other than gifts of future interests in property.
To read more from the IRS on the new amounts, check out https://www.irs.gov/pub/irs-drop/rp-17-58.pdf (gift exclusion found on page 20 – section .37; tax exemptions found on page 19 – section .35)