Annual Gift Tax Exclusion 2024

Annual Gift Tax Exclusion 2024. For 2024, the irs has increased the annual gift tax exclusion for individuals from $17,000 to $18,000. A married couple filing jointly can double this amount and gift individuals $36,000 apiece in 2024.

Here’s how the gift tax works, along with current rates and exemption amounts. The combined gift and estate tax exemption will be $13.61 million per individual for lifetime gifts made in 2024.