Irs Estate Tax Exemption 2024. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax. For 2024, the lifetime exemption amount is $13.61 million per individual, or $27.22 million for a married couple.

The federal estate tax exemption (the amount you can pass at your death free of estate tax) also increases in 2024. The agency has boosted the income thresholds for each bracket, applying to tax year.