2025 Gift Tax Limit Married Filing Jointly

2025 Gift Tax Limit Married Filing Jointly. (that’s up $1,000 from last year’s limit since the gift tax is one of many tax amounts adjusted annually for inflation.) for married. For instance, residents of new york can receive an annual state income tax deduction for 529 plan contributions of up to $5,000 ($10,000 if married and filing jointly).

Heads of household may claim a $22,500 standard deduction, $600 more than for 2024. Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023).