2024 Gift Tax Exemption . For 2024, the federal annual gift tax exclusion has increased to $18,000 per recipient, up from $17,000 in 2023, without triggering the need to file a gift tax return. Each year, the irs sets the annual gift tax exclusion, which allows a taxpayer to give a certain amount (in 2024, $18,000) per recipient.
The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year. Spouses can elect to “split” gifts,.
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