Applicable Exclusion Amount

The IRS has announced the official estate and gift exclusion amounts for 2023.    

For an estate of any decedent dying during calendar year 2023, the applicable exclusion is increased from $12.06 million to $12.92 million.  This change increases not only the applicable exclusion amount available at death, but also a taxpayer’s lifetime gift applicable

On November 15, the IRS announced the official estate and gift exclusion amounts for 2019 in Revenue Procedure 2018-57.

For an estate of any decedent dying during calendar year 2019, the applicable exclusion is increased from $11.18 million to $11.4 million.  This change increases not only the applicable exclusion amount available at death, but also