Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, October 26, 2005

Gift Tax Annual Exclusion Likely to Increase

Beginning in 1999, the amount of the annual exclusion has been indexed for inflation. I.R.C. § 2503(b)(2). However, the amount of the exclusion is rounded to the closest multiple of $1,000 which is below the indexed amount.

The annual exclusion began at $10,000 and was increased to its present level of $11,000 in 2002.

According to unofficial reports such as CCH Projects Key Tax Figures for 2006, the annual exclusion will increase to $12,000 starting with calendar year 2006.


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