2024 Gift Tax Exemption

2024 Gift Tax Exemption. The annual gift tax exclusion amount for 2024 is $18,000 per donee. In this alert, we have only briefly covered the estate and gift tax updates for 2024.

By using this exclusion, you can gift up to $18,000 to an individual each year without paying a gift tax on the. The federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person and $27.22 million per married couple next year.