2017 FEDERAL INCOME TAX FIGURES

♠ Posted by Marc J. Soss in 2017 federal estate tax exemption,2017 federal gift tax exemption,2017 Federal Income Tax figures,estate taxes,federal income tax return,Federal tax law changes,florida tax lawyer at Tuesday, November 01, 2016

Standard deduction - married filing jointly = $12,700 Standard deduction - single persons = $6,350 Standard deduction for a dependent = $1,050 Overall Limitation on itemized deductions (Section 68(b)) = $313,800 (Married person) Personal exemption = $4,050 Unified credit against estate tax and gift tax = $5,490,000 Gift tax annual exclusion = $14,000 (no change) Gift tax annual exclusion for gifts to noncitizen spouse = $149,000