Gift Tax 2024 Exemption. 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. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax.

The federal estate, gift, and gst tax exemptions for u.s. One is the annual gift tax exclusion, also known as the gift tax limit, a set dollar amount adjusted yearly for inflation.