2014 Estate Tax and Gift Tax Exclusion Amounts

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The “permanent” estate and gift tax exclusion amounts from the American Taxpayer Relief Act are indexed each year for inflation. The IRS just released its 2014 inflation adjusted numbers.  The 2014 estate tax and gift tax exclusion amounts are:

Estate Tax $5,340,000

Gift Tax $5,340,000

Generation Skipping Tax $5,340,000

Annual Gift Tax Exclusion $14,000