INSIGHTS & IDEAS
Annual gift tax exclusion $13,000 in 2009
For 2009 the annual gift tax exclusion is $13,000. In addition the Federal estate tax exclusion has been raised to $3,500,000. Keep in mind that NY State still taxes estates over $1,000,000 and a Federal gift tax return is required to be filed for gifts in excess of $1,000,000.<< Back to Insights & Ideas