Gift Limits

2019 Annual Inflation Adjustments

 
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Now that the 2018 tax filing season is over, here are some 2019 tax numbers that may be of interest.

  • Standard Deduction:

    • $24,400 for Married Filing Jointly (increased $400)

    • $12,200 for Single (increased $200)

  • Adoption Credit: $14,080 (increased $270)

  • Qualified Business Income Threshold:

    • $321,400 for Married Filing Jointly (increased $6,400)

    • $160,700 for Single (increased $3,200)

  • Unified Credit against the Estate Tax: $11,400,000 (increased $220,000)

  • Annual Gift Tax Exclusion: $15,000 (no change)

  • Refundable portion of Child Tax Credit: $1,400 (no change)

  • Federal Income Tax Brackets: See tables below.

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Want more details and more numbers? Read the IRS’s Revenue Procedure 2018-57.