As of 2022, the following Estate and Gift tax exemptions are in effect:
- Estate Tax Exemption – $12,060,000 (U.S. Citizens and Residents)
- Annual Gift Tax Exemption – $16,000 (U.S. Citizens and Residents)
- Gifts Between Spouses – Unlimited (U.S. Citizens only)
- Nonresident Alien Estate Tax Exemption – $60,000 (may be subject to foreign treaty)
- Gifts to Non-Citizen Spouse – $164,000 (in lieu of unlimited marital deduction)
Keep in mind, the current Estate and Gift tax laws are set to sunset in 2025.
