Irs Gift Tax Rules 2024. The annual exclusion for gifts increases to $18,000 for calendar year 2024, increased from $17,000 for calendar year 2023. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.
The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023. The combined gift and estate tax exemption will be $13.61 million per individual for lifetime gifts made in 2024 and for bequests made by someone passing.