Gift Tax Amount For 2024 Elections. The gift tax limit, also known as the gift tax exclusion, is $18,000 for 2024. Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns.
The gift and estate tax lifetime exemption amount will increase again in 2024 from $12.92 million to $13.61 million per person ($27.22 million for married couples). (thatโs up $1,000 from last yearโs limit since the gift tax is one of many tax amounts adjusted annually for inflation.) for married couples.