The IRS announced that the federal gift and estate tax exemption, which increases annually with inflation, will be $5.6 million per individual in 2018 (or $11.2 million for a married couple), a $110,000 increase from the 2017 exemption level of $5.49 million. The increase also applies automatically to the generation-skipping transfer tax exemption. In addition, the…
Category: Tax
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