Irs Annual Gift Tax Exclusion 2024. The 2024 gift tax limit is $18,000, up from $17,000 in 2023. For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as many people as he or she wants without having to pay any taxes on the gifts.
If the value of your gifts to any individual in a calendar year exceeds the annual exclusion amount of $17,000, you must file a gift tax return with the irs. As per irs gift tax rules, for the year 2024, the annual gift tax exclusion limit remains at $15,000 per individual recipient.
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