For 2022:
Federal Estate Tax Basic Exclusion: $12,060,000
Federal Annual Gift Tax Exclusion: $16,000 (per donee)
Personal Exemption: Eliminated in 2018.
Standard Deduction: The new law combines personal exemptions and the standard deduction into one larger standard deduction for 2018 and later. 2022: $12,950 for singles and $25,900 for married couples.