IRS Releases 2013 Inflation-Adjusted Estate and Gift Tax Amounts

Updated: Dec 10, 2019


The amount of gifts that may be made in 2013 by one person to another without causing the donor to include some portion in his taxable gifts (the “annual exclusion amount”) will increase to $14,000.

Under the provisions of ATRA, the federal lifetime gift tax exemption has been indexed for inflation and therefore increased from $5.12 million in 2012 to $5,250,000 million in 2013. Finally, the generation skipping transfer tax exemption has also been indexed for inflation and therefore increased from $5.12 million in 2012 to $5,250,000 million in 2013.


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