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 Irs Form 706 2018-2024

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Instructions and help about us form 706 july 1999

Hello again Paul Rabelais here as we're wrapping up to 2018 moving into 2019 I wanted to give you an update on the 2019 gift and estate tax rules with some analysis on those rules so let's jump right in two quick things we'll start with the very basics the annual exclusion amount for 2018 it was $15,000 for 2019 it'll be $15,000 it goes up by $1,000 but in increments of $1,000 but it's adjusted for inflation, so it goes up every few years it stays at $15,000 the other number is the gift in a state tax exclusion amount for 2018 it was 11 point one eight million a lot of people called it eleven point two million 2019 jumps up a little to eleven point four million dollars now let's take a much closer look at those numbers and what they mean and how things are going to take effect moving forward first the annual exclusion amount of $15,000 its I now say this every time I explain it because most people don't fully understand it it's its most people call a gift in excess of $15,000 a taxable

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