Inheritance Limits Tax Free 2024. In 2022, that annual gift exclusion was $16,000 and moves up to $17,000 for 2023. A higher exemption means more estates may be exempt from the federal tax this year, which can save.


Inheritance Limits Tax Free 2024

In the current tax year, 2024/25, no inheritance tax is due on the first £325,000 of any estate, with 40% normally being charged on any amount. An inheritance tax is paid by beneficiaries on inherited money or property.

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