2024 Gift Tax Exclusion Amount

2024 Gift Tax Exclusion Amount. See 2024 and 2025 exclusion amounts and. For 2024, the estate tax exemption is approximately $13.4 million per individual (the exact amount should be confirmed from official irs sources).

You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.