For gifts made and estates of decedents dying in 2021, the exclusion amount will be $11,700,000 (up from $11,580,000 for gifts made and estates of decedents dying in 2020).
The exemption from generation-skipping transfer (GST) tax will be $11,700,000 for transfers in 2021 (up from $11,580,000 for transfers in 2020).
For gifts made in 2021, the gift tax annual exclusion will be $15,000 (same as in 2020).
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What to know about taxation of Foreign Nationals
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